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BRIEF-Layne Christensen reports definitive agreement to sell heavy civil business
February 9, 2017 / 9:55 PM / 8 months ago

BRIEF-Layne Christensen reports definitive agreement to sell heavy civil business

Feb 10 (Reuters) - Layne Christensen Co :

* Layne Christensen Co - sale price for heavy civil business is approximately $10.1 million

* Says company currently estimates that transaction will result in a book loss in q1 of fiscal 2018

* Says net book value of heavy civil business being sold was approximately $22.6 million as of October 31, 2016

* Layne Christensen announces definitive agreement to sell its heavy civil business

* Layne Christensen says sale price consists of at least $6.4 million in cash, with remainder consisting of layne common stock currently owned by investors Source text for Eikon: Further company coverage:

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