PrimeWest Energy Trust and Shiningbank Energy Income Fund completed a plan of arrangement on July 11, 2007, merging the two entities to form one of the largest and best-positioned natural gas-focused trusts in Canada with an initial enterprise value in excess of $4.5 billion. The financial terms of the transaction are undisclosed.
PrimeWest Energy Trust was represented by Stikeman Elliott LLP, with a team that included Leland Corbett (securities/M&A, banking); Keith Chatwin, Bradley Squibb and Kyle Brunner (securities/M&A); David Weekes and Kevin Kelly (tax); Barbara Johnston (employment); Mark Christensen (banking); Lou Cusano and Cairns Price (litigation); and Susan Hutton and Ian Disend (competition/Investment Canada).
Shiningbank Energy Income Fund was represented in-house by Murray J. Desrosiers, corporate secretary and general counsel and by Gowling Lafleur Henderson LLP, with a team that included Richard Clark, Brian Mainwaring, Jason McCormick, Bennett Wong and Léonard Serafini (securities/M&A); Eugene Friess (tax); Richard Myers (banking); Henry Brown (Investment Canada); Francois Baril (competition); and Geoffrey Holub (litigation). McCarthy Tétrault LLP also represented Shiningbank as special tax counsel, with a team that included Robert McCue, James Morand, TJ Kang and Catherine Gerrits.