Deals - Acquisition, Mergers, Divestitures
Advantage Oil & Gas Seals $100MM Sale of Glacier Gas Plant Interests
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Advantage Oil & Gas Ltd. has closed the previously announced sale of a 12.5% interest in the Glacier Gas Plant to Topaz Energy Corp. for $100MM in cash.
Advantage retains the remaining 87.5% interest and will continue to be operator of the Glacier Gas Plant with access to all surplus capacity during the term of a 15-year volume commitment with Topaz.
Advantage will utilize the cash proceeds net of transaction costs to reduce bank indebtedness on the Corporation's $350 million revolving credit facility.
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