Financial Times FT.com

EnCana shareholders agree on split

By Christopher Mason in Ottawa

Published: November 25 2009 23:49 | Last updated: November 25 2009 23:49

Shareholders in EnCana on Wednesday voted to split the Canadian energy group into two publicly traded companies, one focused on natural gas, the other on the Alberta oilsands.

Once the move receives court approval, EnCana will focus exclusively on gas, while oil and refinery assets will be spun off into a separate company, Cenovus Energy, valued at C$21bn (US$19.8bn).

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