April 25 (Reuters) - Husky Energy Inc HSE.TO :
* Husky energy to sell partial interest in select midstream
assets for $1.7 billion
* Will receive $1.7 billion of gross cash proceeds
* Husky will have a 35 percent interest in assets and will
remain operator
* RBC capital markets and HSBC Securities (Canada) Inc.
Acted as financial advisors and Torys Llp acted as legal advisor
to husky
* Board appointed a committee of independent directors of
board to review and assess transaction given related party
nature
* Deal under which 65 percent ownership interest in select
midstream assets in Lloydminster region of Alberta and
Saskatchewan will be sold
* New limited partnership will be formed of which husky will
own 35 percent, Cheung Kong infrastructure 16.25 percent, PAH
48.75 percent
* Assets involved in deal include about 1,900 km of pipeline
in Lloydminster region, 4.1 million barrels of oil storage
capacity at Hardisty
* Says ownership in assets to be sold to Cheung Kong
infrastructure holdings limited and power assets holdings ltd
Source text for Eikon: ID:nCCN4kV87Y
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