Penn West Energy Trust
From Taighde
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Penn West Energy Trust is an oil and gas company based in Canada.
In May 2010, the China Investment Corporation agreed to purchase 23,524,209 trust units of Penn West. The CIC paid $424 million (CAD $435 million) for the stake. The stake represents approximately 5% of total trust units. As part of the agreement, the CIC and Penn West agreed to create a JV to develop an oil sands project in Canada. The CIC contributed $796.21 million into the Peace River Joint Venture. The Calgary Herald has reported that the CIC wanted a larger stake in Penn West. The CIC increased their stake slightly to keep their 5% ownership by purchasing 180,225 shares on the open market.[1]
The Government Pension Fund of Norway held a 0.26% stake in the company as of December 31, 2009. The stake is valued at $19,066,432.
| Date | Ownership | Voting | Value |
|---|---|---|---|
| December 31, 2009 | 0.26% | 0.26% | $19,066,432 |
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