Home / Manage finances / Non-brokered private placement one of two surprises in $1.8B PrairieSky-Canadian Natural Resources transaction
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Non-brokered private placement one of two surprises in $1.8B PrairieSky-Canadian Natural Resources transaction

PrairieSky will purchase Canadian Natural’s royalty business, a move that will unify “two of the largest fee simple mineral title and royalty positions in Western Canada into a single Canadian enterprise.”

There are at least two unusual elements in the $1.8 billion transaction announced Monday between Canadian Natural Resources and PrairieSky Royalty.

In that transaction, PrairieSky will purchase Canadian Natural’s royalty business, a move that will unify “two of the largest fee simple mineral title and royalty positions in Western Canada into a single Canadian enterprise.” The prospect of CNQ selling its royalty assets was first mooted last March when the company said all options, including an IPO or an outright sale, were on the table.

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