Business
Cygnet Energy Enters into Agreement to Acquire Kiwetinohk Energy Corp.
Cygnet Energy Ltd. ("Cygnet" or the "Company"), a private exploration and production company, is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Kiwetinohk Energy Corp. ("KEC") to acquire all of the issued and outstanding common shares of KEC (the "KEC Shares") for C$24.75 per KEC share in cash (the "Acquisition"), which equates to a total Acquisition consideration of approximately C$1.4 billion, inclusive of equity and net debt
About this update from The Carlyle Group Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Transaction to create a scaled player in the Montney and Duvernay formations with deep inventory and differentiated market access","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"Offer price represents C$24.75 per share in cash","length":48,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":177,"olType":false},{"type":"text","content":"CALGARY, AB, Oct. 28, 2025 /CNW/ - Cygnet Energy Ltd. ("Cygnet" or the "Company"), a private exploration and production company, is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Kiwetinohk Energy Corp. ("KEC") to acquire all of the issued and outstanding common shares of KEC (the "KEC Shares") for C$24.75 per KEC share in cash (the "Acquisition"), which equates to a total Acquisition consideration of approximately C$1.4 billion, inclusive of equity and net debt to be assumed. The Acquisition brings together two complementary asset bases, creating a combined company with greater scale, enhanced operational synergies, and significant long-term resource potential. The Acquisition is to be completed by way of a plan of arrangement under the Canada Business Corporations Act and is expected to close in late December 2025.","length":961,"tagName":"p"},{"type":"image","alt":"Cygnet Energy Ltd. (CNW Group/Cygnet Energy Ltd.)","displaySize":"","headline":null,"caption":"Cygnet Energy Ltd. (CNW Group/Cygnet Energy Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":158,"url":"https://media.zenfs.com/en/cnwgroup.com/9e7ecbaef9d2ea6bde9b0210e63d4483"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/w0nkt7Vr03eGl3FOrK_A.g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI3ODtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/9e7ecbaef9d2ea6bde9b0210e63d4483","width":400,"height":158}},"href":"https://mma.prnewswire.com/media/2806845/Cygnet_Energy_Ltd__Cygnet_Energy_Enters_into_Agreement_to_Acquir.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Funding for the Cash Consideration to be Provided by NGP and Carlyle ","length":68,"tagName":"p"},{"type":"text","content":"Funding for the Acquisition is being provided primarily by the respective investment funds of existing Cygne...