Plan of Arrangement involving Gear Energy Ltd. and Cenovus Energy Inc.
On December 1, 2024, Gear Energy Ltd. ("Gear"), Cenovus Energy Inc. and 2640847 Alberta Ltd. ("Newco) entered into an arrangement agreement pursuant to which Cenovus will acquire all of the issued and outstanding common shares of Gear, excluding its Central Alberta, Southeast Saskatchewan, and Tucker Lake properties which will be transferred to Newco, for $110 million in cash, subject to adjustments as provided for in the Agreement.
Cenovus Energy Inc. is an integrated oil company headquartered in Calgary, Alberta.
McCarthy Tétrault advised Cenovus Energy Inc. with a team led by John Piasta that included Michael Bennett, Ashley Wilson, Jonathan Brisebois, Conrad Parken, Tyson Jackson (Corporate); Tom McInerney, Robyn Finley, Derek Baker, Stephan Possin (Energy); Daphne Rodzinyak (Environmental); Matthew Kraemer, Erica Hennessey, Daniel Downie (Tax); John Gilmore (Labour and Employment); Jason Gudofsky, Gideon Kwinter, Lucinda Chitapain (Competition).
