Forest Oil Plans to Spin Off Canadian Assets

摘要

Forest Oil said it plans to spin off its Canadian oil and gas business in a phased transaction that will start with an initial public offering (IPO) of 19.9% of the common stock of its wholly owned Canadian subsidiary Lone Pine Resources in the first half of 2011. Forest plans to complete the move by distributing its remaining ownership of Lone Pine to Forest's shareholders about four months after the IPO.