Brief: Enterprise Group to divest of T.C. Backhoe & directional drilling

Enterprise

13/06/2016 14:00

June 13 (Reuters) - Enterprise Group Inc  E.TO  : 
    * Assets will be acquired by TC Infrastructure Services 
Ltd., a wholly owned subsidiary of Quanta Services, Inc 
    * Gross cash proceeds from this transaction will be 
approximately $16.9 million 
    * Enterprise will also receive payment of working capital, 
which company anticipates will amount to approximately $3.0 
million 
    * All proceeds from this transaction will be deployed 
towards reducing enterprise's debt 
    * Enterprise group announces agreement to divest of t.c. 
Backhoe & directional drilling 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nCCN30DKH4 
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