Brief: CWC Energy Services to acquire C&J Energy Services' Canadian service and swabbing rig assets

CWC Energy Services

30/10/2017 13:00

Oct 30 (Reuters) - CWC Energy Services Corp  CWC.V  
    * CWC Energy Services to acquire C&J Energy Services' 
Canadian 
Service and swabbing rig assets becoming the largest active 
service rig contractor in Canada 
    * CWC Energy Services - To buy service and swabbing rig 
assets 
and ongoing operations of C&J Production Services-Canada for 
C$37.5 million 
    * CWC Energy Services Corp - Transaction is expected to be 
accretive to CWC on an adjusted EBITDA, cash flow and earnings 
per share basis 
    * CWC Energy Services - Combined assets are expected to 
result in 
SG&A expense synergies of approximately $4.3 million annually 
    * CWC - Deal to be financed initially from co's expanded 
credit 
facilities with co's existing banking syndicate & then through 
equity rights offering 
 
Source text for Eikon:  ID:nCNWvVNFxa  
Further company coverage:  CWC.V  
 
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