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The Suncor-Centrica deal: A billion dollars, but not many bankers

A billion-dollar deal in the oil patch should have Calgary bankers celebrating. But the deal between Suncor Energy Inc. and Centrica PLC and its partner Qatar Petroleum was short on investment bankers.

Centrica did not hire any bankers to assist with its $1-billion purchase of Suncor’s conventional natural gas assets, according to Wes Morningstar, a senior vice-president with Centrica in Calgary. Suncor, he noted, had Macquarie Group on its side.