Vermilion Energy (VET) said Wednesday it closed its previously announced acquisition of Westbrick Energy.
The company announced the transaction in December, saying it would acquire Westbrick Energy for $1.08 billion in cash.
According to Vermilion, Westbrick shareholders had the option to receive up to 1.7 million Vermilion common shares, not exceeding $25 million in value, as part of the total consideration. Certain shareholders elected to receive 1.1 million shares, valued at $14.2 million.
The company said the remainder of the consideration will be paid in cash using existing funds, a new $450 million term loan, and an undrawn $1.35 billion revolving credit facility.
Vermilion said it will issue an updated 2025 guidance to reflect the acquisition with the release of its Q4 results on March 5.
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