Kiwetinohk Announces Cash Sale
Kiwetinohk Energy Corp. (TSX: KEC) and Cygnet Energy Ltd. have entered into an arrangement agreement.
Under the agreement, Cygnet will acquire all issued and outstanding common shares of Kiwetinohk for $24.75 per share.
Cygnet is a private exploration and production company backed by investment funds managed by NGP Energy Capital Management, ARC Financial Corp., and Carlyle (NASDAQ: CG).
No additional information is provided.
Author's summary: Kiwetinohk sells shares to Cygnet.