Cenovus Energy to become Western Canada’s largest ethanol producer with Husky Energy takever

October 28, 2020 |

In Canada, Cenovus Energy Inc. and Husky Energy Inc. announced a transaction to create a new integrated Canadian oil and natural gas company with an advantaged upstream and downstream portfolio that is expected to provide enhanced free funds flow generation and superior return opportunities for investors.

The companies have entered into a definitive arrangement agreement under which Cenovus and Husky will combine in an all-stock transaction valued at C$23.6 billion, inclusive of debt. The combined company will operate as Cenovus Energy Inc. and remain headquartered in Calgary, Alberta. The transaction has been unanimously approved by the Boards of Directors of Cenovus and Husky and is expected to close in the first quarter of 2021.

AgCanada reports that Husky Energy confirmed its ethanol plants in Saskatchewan and Manitoba are included in the deal, making Cenovus Western Canada’s largest ethanol producer.

https://www.cenovus.com/news/news-releases/2020/10-25-2020-cenovus-and-husky-combine-to-create-a-resilient-integrated-energy-leader.html

Category: Fuels

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