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Wholly owned subsidiary of Cenovus
- With the close of the transaction, Husky has become a wholly owned subsidiary of Cenovus and will remain as such until completion of a planned amalgamation among the two entities. Upon amalgamation, Cenovus will become the obligor under Husky’s existing long-term notes and other direct obligations.
www.cenovus.com/News-and-Stories/News-releases/2021/2152436Cenovus closes transaction to combine with Husky - Cenovus Energy
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With the close of the transaction, Husky has become a wholly owned subsidiary of Cenovus and will remain as such until completion of a planned amalgamation among the two entities. Upon amalgamation, Cenovus will become the obligor under Husky’s existing long-term notes and other direct obligations.
- Cenovus completes amalgamation with Husky Energy Inc.
CALGARY, Alberta, March 31, 2021 (GLOBE NEWSWIRE) -- Cenovus...
- Cenovus and Husky transaction - Cenovus Energy
On January 1, 2021 Cenovus Energy combined with Husky...
- Cenovus completes amalgamation with Husky Energy Inc.
CALGARY, Alberta, March 31, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that effective March 31, 2021, its wholly owned subsidiary Husky Energy Inc. (“Husky”) has been amalgamated with Cenovus under the provisions of the Canada Business Corporations Act (the “amalgamation”).
- 'Significant Cause For Optimism': Cenovus CEO
- Company Could Cut More Than 2,000 Jobs
- Combined Company Will Be Stronger: Husky Director
It comes at a pivotal time in Canada's energy sector as the collapse in oil prices and global pandemic puts pressure on the oil and gas industry. The combined company would create the third-largest Canadian oil and natural gas producer by total production. Cenovus CEO Alex Pourbaix called shareholder approval of the deal a "defining moment" that wi...
Combining the companies will create annual savings of $1.2 billion, the companies said, largely achieved within the first year and independent of commodity prices. However, workforce reductions are expected, another blow to Alberta's oil and gas sector, which has been hard hit by job cuts in recent months. A Cenovus spokesman has said the company p...
Frank Sixt, a director of Husky Energy, said the combined company will be more sustainable. "The synergies between Husky and Cenovus are clear," he told shareholders. "We share many similar values and priorities." Sixt said the company is optimistic about its future. "Husky has built a strong foundation over more than 80 years," he said. "From our ...
On January 1, 2021 Cenovus Energy combined with Husky Energy, creating the second largest Canadian oil and natural gas producer and refiner and upgrader. The combined company operates as Cenovus Energy, headquartered in Calgary, Alberta.
Oct 25, 2020 · The chief executive of Cenovus Energy said he believes there are more mergers ahead for Canada's oil and gas sector after it was announced Sunday that his company was buying rival Husky...
Oct 25, 2020 · A surprise move by Cenovus Energy Inc. to buy rival Husky Energy Inc. for $3.8 billion in shares will create the third-largest Canadian oil and natural gas producer by total production, the...
Oct 25, 2020 · Cenovus Energy is to buy rival Canadian oil producer Husky Energy, controlled by Hong Kong billionaire Li Ka-shing, in a C$10.2bn ($7.8bn) deal as the wave of consolidation sweeping North...
