Norton Rose advises Petronas in $5.5 billion Canadian energy deal
Le 28 juin 2012
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The Am Law Daily reports on Norton Rose Canada acting as legal counsel to PETRONAS in its agreement to acquire Progress Energy Resources Corp. for approximately C$$5.5 billion.
The acquisition of Calgary-based Progress is consistent with the strategy of PETRONAS (the Malaysian national oil and gas company) in strengthening its position as one of the global leaders in Liquefied Natural Gas (LNG). Progress is focused on the exploration, development and production of large, unconventional natural gas resources in northeast British Columbia and northwest Alberta.
For Petronas, Norton Rose’s energy partner Chrysten Perry and securities senior partner Kevin Johnson are leading the Norton Rose Canada team on the acquisition. Securities partner Michael Bennett, tax partners Darren Hueppelsheuser and Dion Legge, and regulatory senior partner John Carleton are also advising.
Bloomberg and The Deal Pipeline have also reported on the agreement.