Feb 5, 2018
Osler is proud to have advised on eight of Lexpert’s top 10 deals of 2017, including — ConocoPhillips in the sale of its interest in the Foster Creek Christina Lake oil sands partnership and the majority of its western Canada Deep Basin assets to Cenovus for $17.7 billion, Veresen Inc. in its $9.7 billion arrangement agreement with Pembina Pipeline Corporation and Brookfield Capital Partners Ltd., lenders to Stelco Inc., in its CCAA proceedings valued at $2 billion.
Janice Buckingham, chair of the Oil & Gas Practice and Co-lead of the Energy Practice at Osler, was counsel to ConocoPhillips, and said this “The transaction was significant in terms of maximizing value in a low price environment. The combination of cash and share consideration with anticipated upside in pricing created a win for both parties, while ensuring their ability to extrapolate value from remaining interests.”
Osler advised on the following eight transactions in Lexpert’s top 10 deals of 2017:
- ConocoPhillips in the sale of its interest in assets to Cenovus
- Veresen Inc. in its arrangement agreement with Pembina Pipeline Corporation
- Brookfield Capital Partners Ltd., lenders to Stelco Inc., in its CCAA proceedings
- Chevron Canada Limited in the sale of a subsidiary that owns a Canadian downstream fuel business to Parkland Fuel Corporation
- SmartREIT and Strathallen Acquisitions Inc. in its acquisition of OneREIT
- Nortel Networks Corporation in its execution of global settlement and support agreement
- TELUS Corporation in its acquisition of approximately 100,000 wireless customers in Manitoba from BCE, in connection with BCE’s acquisition of MTS
- Agrium Inc. in its merger with Potash Corp. to form Nutrien Ltd.
Read more about Lexpert’s top 10 deals of 2017
*Lexpert’s methodology: The magazine’s list of the top 10 deals of the year is unlike the league tables, which are ranked mainly by size of the transactions. The Lexpert list identifies deals that have significant Canadian legal content, represent a trend, illustrate some aspect of the year’s economic climate or foretell things to come. There is no minimum size or preferred structure. These deals “lean more toward ‘lawyers’ deals’ in the sense that they comprise compelling legal issues.”