StonePoint Energy announces proposed acquisition by Endurance Energy
On July 6, 2015, StonePoint Energy Inc. (StonePoint) announced that it entered into a definitive arrangement agreement pursuant to which Endurance Energy Ltd. (Endurance), a portfolio company of Warburg Pincus, a global private equity firm focused on growth investing, agreed to acquire all of the outstanding common shares of StonePoint for cash consideration of C$0.078125 per share. The transaction will be completed by way of a plan of arrangement under the Business Corporations Act (Alberta).
It is anticipated that the transaction will close shortly after the StonePoint special shareholders meeting to consider the transaction, which is expected to be held in August 2015.
StonePoint is a Calgary-based junior oil and gas company engaged in petroleum and natural gas exploration and development focused on assets situated in the Deep Basin and Peace River Arch (PRA) areas of Western Canada.
Endurance is a private Calgary-based exploration and production company focused on the acquisition and development of natural gas assets in the Western Canadian Sedimentary Basin.
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