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Slimmed-down Paramount sells Seven Generations shares Add to ...

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Paramount Resources Ltd. has sold off about three-quarters of its interest in Seven Generations Energy Ltd., shortly after acquiring the stake as part payment for a $1.9-billion sale of Alberta natural gas assets.

Paramount, controlled by Calgary oil man Clayton Riddell, said it garnered $735-million for 24.7-million Seven Generations shares in a series of transactions. It’s received $310-million and expects the remainder in December.

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