​China Oil and Gas Group Limited completes C$235.6 million acquisition of Baccalieu Energy Inc.

Date closed: 07/23/2014

Value: C$235.6 million

On July 23, 2014, China Oil and Gas Group Limited (China Oil and Gas), through its indirect wholly-owned subsidiary, completed the acquisition of Baccalieu Energy Inc. (Baccalieu), a Calgary-based oil and natural gas company with assets in western Canada.

The acquisition was carried out by way of a statutory plan of arrangement pursuant to which China Oil and Gas indirectly acquired all of the issued and outstanding common shares of Baccalieu for $10.22 in cash per share.  The total transaction was valued at approximately $235.6 million, excluding assumed debt.

China Oil and Gas is a Hong Kong listed public company principally engaged in natural gas distribution and energy related business in China.

BLG represented China Oil and Gas with a team led by Kent Kufeldt that included Lily Wang and Scott Cedergren (corporate and M&A), Peter Bryan (oil and gas), Laurie Robson (employment), Colin MacDonald and Matthew Noel-Bentley (competition) and Randy Morphy (tax).