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.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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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.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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