Warburg Pincus Affiliate Drops $157M In MEG Energy Shares

Law360, New York (November 26, 2013, 9:07 PM EST) -- A Warburg Pincus LLC affiliate will hold a secondary offering of 5 million shares of Canadian oil sands developer MEG Energy Corp. at $31.40 per share, for a total of $157 million, MEG said Monday.

WP Lexington Private Equity BV is one of MEG's principal shareholders and together with other Warburg entities will hold on to about 37.7 million common shares, or approximately 17 percent of the total shares outstanding, MEG said. The offering is being made through an agreement between BMO Capital Markets, which is...
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