Allen & Overy Reps Dana In €328M Petro Canada Buy

Law360, New York (June 14, 2010, 1:22 PM EDT) -- Dana Petroleum PLC agreed Monday to pay €328 million ($393 million) to buy Suncor Energy Inc. subsidiary Petro Canada Netherlands BV, little more than a year after Suncor acquired the oil and gas exploration and production company as part of a CA$19 billion ($15 billion) stock merger.

The company will use its Dana Petroleum (E&P) Ltd. subsidiary to buy Petro Canada's entire issued share capital in cash through a new $900 million term loan and revolving credit facility from the Royal Bank of Canada.

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