HRT To Raise $1.65B For UNX Energy Deal

Brazilian oil company,HRT Participacoes em Petroleo, is planning to offer new shares worth about $1.65 billion,The Wall Street Journalreports. HRT may offer about 1.35 million shares for $1,238.49 per share.

The proceeds are expected to be used by HRT to fund its acquisition of Canada’sUNX Energy. UNX shareholders will receive HRT shares backed by Global Depositary Receipts (GDRs), which will be traded on theToronto Stock Exchange.

Click here for the story fromThe Wall Street Journal.