Brief: Enerflex To Acquire Exterran In An All-Share Transaction

Enerflex

24/01/2022 12:17

Jan 24 (Reuters) - Exterran Corp:
    * ENERFLEX LTD. AND EXTERRAN CORPORATION TO COMBINE,
CREATING A
PREMIER INTEGRATED GLOBAL PROVIDER OF ENERGY INFRASTRUCTURE
    * EXTERRAN CORP - COMPANIES WILL COMBINE IN AN ALL-SHARE
TRANSACTION
    * EXTERRAN CORP - ENERFLEX WILL ACQUIRE ALL OF OUTSTANDING
STOCK
OF EXTERRAN ON BASIS OF 1.021 ENERFLEX SHARES FOR EACH
OUTSTANDING SHARE OF EXTERRAN
    * EXTERRAN CORP - TRANSACTION VALUE FOR EXTERRAN IS
APPROXIMATELY
US$735 MILLION
    * EXTERRAN CORP - ENERFLEX AND EXTERRAN SHAREHOLDERS WILL
RESPECTIVELY OWN APPROXIMATELY 72.5% AND 27.5% OF TOTAL ENERFLEX
COMMON SHARES OUTSTANDING
    * EXTERRAN CORP - ENERFLEX WILL CONTINUE TO TRADE ON TORONTO
STOCK
EXCHANGE
    * EXTERRAN CORP - ENERFLEX TO APPLY TO NYSE OR NASDAQ FOR
LISTING
OF ENERFLEX COMMON SHARES TO BE EFFECTIVE UPON TRANSACTION CLOSE
    * EXTERRAN CORP - DEAL EXPECTED TO ABOUT DOUBLE ADJUSTED
EBITDA,
BE OVER 50% ACCRETIVE TO CASH FLOW/SHARE AND ABOUT 50% ACCRETIVE
TO EPS FOR ENERFLEX SHAREHOLDERS
    * EXTERRAN CORP - AFTER CLOSE, ENERFLEX EXPECTS TO MAINTAIN
ITS
QUARTERLY DIVIDEND OF CAD$0.025 PER COMMON SHARE
    * EXTERRAN CORP - EXPECT Q4 RESULTS TO BE IN-LINE WITH
GUIDANCE
PROVIDED ON Q3 CALL
    * EXTERRAN CORP - ALL FUNDS MANAGED BY CHAI TRUST COMPANY
LLC, ALL
OF CO'S DIRECTORS & OFFICERS AGREED TO VOTE THEIR RESPECTIVE
SHARES IN FAVOUR OF DEAL
    * ENERFLEX LTD: SANJAY BISHNOI WILL REMAIN AS ENERFLEX'S
CHIEF
FINANCIAL OFFICER
    * ENERFLEX LTD: MARC ROSSITER WILL REMAIN AS ENERFLEX'S
PRESIDENT,
CHIEF EXECUTIVE OFFICER
    * ENERFLEX: PROPOSES QUARTERLY DIVIDEND CAD$0.025 PER COMMON
SHARE

Source text for Eikon:  ID:nGNX36sghQ 
Further company coverage:  EFX.TO 

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