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Encana Corp. has completed a series of reorganization transactions, resulting in the following:
- Establishing its corporate domicile in the U.S.
- Rebranding under the name Ovintiv Inc.
- Completing a consolidation and share exchange for effectively one share of common stock of Ovintiv for every five common shares of Encana.
The Company received very strong securityholder support with more than 90% of votes cast in favor of the Reorganization.
New Shares to Begin Trading on NYSE, TSX
The shares of common stock of Ovintiv will begin trading on the New York Stock Exchange and the Toronto Stock Exchange at the opening of trading January 27, 2020, and will trade under the symbol "OVV".
Financial and Legal Advisors
Citi acted as financial advisors to Encana. Blake, Cassels & Graydon LLP acted as Canadian corporate counsel, Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as U.S. corporate counsel, Felesky Flynn LLP acted as Canadian tax counsel and Osler, Hoskin & Harcourt LLP, acted as U.S. tax counsel to Encana.
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