Husky Energy has agreed to sell Asian investors a partial interest in its Canadian midstream assets in Alberta and Saskatchewan for C$1.7 billion (US$1.34 million) in an effort to free up cash in light of collapsing crude oil prices.
The company agreed to sell 65% of its total interest in a 1900-kilometre pipeline in the Lloydminster region, 4.1 million barrels of oil storage capacity, and other ancillary assets to Cheung Kong Infrastructure Holdings (CKI) and Power Asset Holdings (PAH).
