Rounding out the Energy Excellence Awards cross-border M&A list is Brookfield’s $13 billion high-stakes acquisition and privatization of leading Canadian midstream Inter Pipeline, which was closed on October 28, 2021. the agreement included Canada, the United States, Sweden and Denmark.
McCarthy Tétrault LLP, led by Jonathan See and Bob Richardson, acted as counsel to Brookfield, and Burnet, Duckworth & Palmer LLP acted for Inter Pipeline.
Another Excellence Award winner is the merger of cannabis companies Aphria Inc. and Tilray Inc., a deal that created the world’s largest cannabis company, trading as Tilray.
Fasken Martineau DuMoulin LLP and DLA Piper acted as lead counsel to Aphria Inc. on the cross-border transaction, valued at approximately $5 billion and covering jurisdictions including Canada, the United States, Germany, Spain and Brazil. Grant McGlaughlin led the Fasken team.
On May 3, 2021, the completion of the transaction resulted in Aphria’s reverse acquisition of Tilray, a transaction that gave Aphria shareholders approximately 62% of Tilray’s outstanding shares on a fully diluted basis.
Irwin Simon, President and CEO of the combined company, said, “Our focus now turns to executing on our most profitable priorities, including commercial integration and accelerating our global growth strategy. The COVID-19 related lockdowns presented unique challenges in the Canadian and German markets. As these markets begin to reopen, Tilray is poised to strike and transform the industry with our highly scalable operational footprint, a curated portfolio of diverse medical and adult cannabis brands and products, a multicontinental distribution network and a solid capital structure. to fund our global expansion strategy and deliver sustained profitability and long-term value to our stakeholders.
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