|Date Announced:||July 09, 2018|
|Date Closed:||July 31, 2018|
NEP Canada Corp., a wholly owned subsidiary of Newton Energy Partners LLC of Houston and a portfolio company of Kayne Anderson Funds, indirectly sold all of the outstanding shares in NEP Canada ULC, its Canadian exploration and production operating subsidiary, to Aspenleaf Energy Limited. Aspenleaf is backed by ARC Financial Corp, a Canadian energy-focused private equity manager, and Ontario Teachers’ Pension Plan.
The transaction was structured as a sale of all of the outstanding partnership interest in NEP Delaware LP, a Delaware limited partnership. Bennett Jones advised the vendor and its parent entities on all aspects of the transaction, including negotiation of the overall commercial framework, the share and partnership interest purchase and sale documentation, cross border tax structuring, the pre-closing acquisition of third party equity interests in the partnership, Competition related regulatory filings, the discharge of NEP Canada ULC's existing credit facilities and employment and benefits matters.