Statoil Canada Acquires North American Oil Sands for $2.2B

On June 25, 2007, Statoil Canada Limited, a wholly owned subsidiary of Statoil ASA, acquired all the shares of North American Oil Sands Corporation under a takeover bid valued at $2.2 billion.

Statoil ASA was represented by Bennett Jones LLP with a team that comprised Bob Booth, Perry Spitznagel, Chip Johnson, Brent Kraus, Jean-Pierre Pham, Vivek Warrier and Harinder Basra (M&A and corporate); Don Greenfield and Beth Riley (regulatory); Greg Johnson and Curtis Stewart (tax), John Batzel (employment) and Alan L. Rautenberg.

North American Oil Sands Corporation was represented by Stikeman Elliott LLP, with a team comprised of Leland Corbett, Martin Mix and Bradley Squibb (M&A and corporate); David Weekes (tax); Gary Nachshen (tax & employment); Susan Hutton (regulatory) and Barbara Johnston (employment).