Brief: High arctic energy services announces acquisition of Tervita Corp's production services division

High Arctic Energy Services

29/08/2016 14:15

Aug 29 (Reuters) - High Arctic Energy Services Inc  HWO.TO  
    * High Arctic Energy Services Inc announces acquisition of 
Tervita Corporation's production services division and executive 
retirement 
    * Deal for an aggregate purchase price of $42.8 million, 
payable in cash 
    * Tim Braun has informed Co of his intent to retire 
    * Decision was made to proceed immediately to appoint Thomas 
Alford as interim president and CEO 
    * Alford will remain on high Arctic's board 
    * Deal to be completed with existing cash, debt facility 
resources, with no current equity dilution to Co's shareholders 
 
Source text for Eikon:  ID:nCCN5NZwHW  
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