On October 9, 2002, Shiningbank Energy Income Fund internalized its management structure through the acquisition of all the outstanding shares of its manager, Shiningbank Energy Management Inc. This transaction eliminates future management and acquisition fees. The consideration paid by the fund was $19.4 million (comprised of $2.91 million in cash, plus the equivalent of $16.49 million in exchangeable shares, exchangeable into trust units), net of $1.8 million to be provided for as part of the creation of a performance/retention bonus pool.
Gowling Lafleur Henderson LLP acted, on the acquisition, for the vendors and to the fund, with a team comprised of Richard Clark, Brian Mainwaring, Marcia Johnston, Robert McCue, Gail Black, Rick Myers, Tom Cumming, Alan Rautenberg and Gary Rose.
Fraser Milner Casgrain LLP acted, on the acquisition, for the special committee of the directors of the fund’s operating company, with a team comprised of David Robottom, William Gilliland, Craig Story and Scott Bodie. Macleod Dixon LLP acted for the lenders to the fund, with a team comprised of Howard MacKichan and Michael Wylie.
Gowling Lafleur Henderson LLP acted, on the acquisition, for the vendors and to the fund, with a team comprised of Richard Clark, Brian Mainwaring, Marcia Johnston, Robert McCue, Gail Black, Rick Myers, Tom Cumming, Alan Rautenberg and Gary Rose.
Fraser Milner Casgrain LLP acted, on the acquisition, for the special committee of the directors of the fund’s operating company, with a team comprised of David Robottom, William Gilliland, Craig Story and Scott Bodie. Macleod Dixon LLP acted for the lenders to the fund, with a team comprised of Howard MacKichan and Michael Wylie.
