Hutchison to Buy $337 Million of Husky Energy Shares in Private Placement

Li Ka-shing’s Hutchison Whampoa Ltd. will buy 14.1 million shares in Husky Energy Inc. for C$345.5 million ($337 million) under a private placement by the Canadian oil producer, also controlled by the Hong Kong billionaire.
Hutchison will acquire the shares at C$24.50 apiece through a wholly owned unit, the Hong Kong-listed company said in a statement to the city’s stock exchange. Husky fell 0.4 percent to close at C$24.47 in Toronto trading yesterday.
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Source: Bloomberg