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Idemitsu Kosan Co Ltd and AltaGas to Acquire Interests in Canadian Oil & Gas Company Petrogas

Thursday, 24 Oct 2013 07:30pm EDT 

Idemitsu Kosan Co Ltd., AltaGas Ltd. and Petrogas Energy Corp. announced that they have reached an agreement wherein AltaGas Idemitsu Joint Venture Limited Partnership ("AIJVLP"), a 50-50 joint venture between Idemitsu and AltaGas, will acquire two-thirds of all outstanding shares of Petrogas. AltaGas Idemitsu Joint Venture Limited Partnership will acquire 6,666,667 shares of Petrogas (including the 25 percent interest in Petrogas initially acquired by AltaGas on October 1, 2013). The transaction is scheduled to be closed in the first quarter of 2014 and Idemitsu's one-third interest in Petrogas will be acquired for approximately CAD 440 million (approximately JPY 42 billion). 

Company Quote

27 Nov 2014