Unfortunately, because of significant investment in a North Sea oil play by a subsidiary, Westar Petroleum, as well as bad timing in a mining investment by another subsidiary, Westar Mining, the company ran into financial trouble.
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In June 1997, the consolidated shares were subject to a compulsory buy-out at $70 each (i.e. 56 cents per bearer share) as part of a privatization transaction by the Jim Pattison Group.
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