Westlinks takes on oil patch players

Article Abstract:

Westlinks Resources Ltd of Calgary, Alberta, has announced a series of bids for 40 Canadian energy companies. The company announced that it would acquire up to 20%-40% of other oil and gas companies to create an investment vehicle for shareholders who are looking for a diversified state in Canada's energy sector. The deals would give the diminutive company a market value of C$2.4 billion. Westlinks had only a market capitalization of C$4 million and revenue of C$1.8 million in 1998.

Acquisitions & mergers, Mining & Extractive Industries, Mining, Westlinks Resources Ltd.

---

Sunoma going public to shed debt, raise capital

Article Abstract:

Sunoma Energy Corp plans to go public to unload some of the debt it took on with its C$222 million hostile takeover of Barrington Petroleum Ltd in fall 1998. Sunoma has around C$420 million of debt, half of which is Barrington's. In addition to an initial public offering, the company also plans to refinance its debt, mostly existing long-term obligations. The debt refinancing plan calls for the issuance of costly, high-yield notes.

Barrington Petroleum Ltd., Sunoma Energy Corp.

---

Similar abstracts:

• Abstracts: Sirois takes helm at Coscient. Warner takes on a conservative role. Livent nabs Broadway whiz
• Abstracts: Loewen mulls selling firm to boost share value. Loewen takes huge writedowns
• Abstracts: TransAlta becomes largest power retailer in New Zealand. Merger makes sense to coal rivals
• Abstracts: YBM'S largest shareholder pushes to replace board. RioCan accuses realfund of delay. Cambridge and partner name mega-mall tenants
• Abstracts: Beetle's whimsical ads capture viewers' hearts. Recreating advertising

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.