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BRIEF-Crius Energy announces acquisition of U.S. Gas & Electric Inc for C$110 million
May 30, 2017 / 8:17 PM / 6 months ago

BRIEF-Crius Energy announces acquisition of U.S. Gas & Electric Inc for C$110 million

May 30 (Reuters) - Crius Energy Trust:

* Crius Energy Trust announces acquisition of U.S. Gas & Electric Inc and C$110 million bought deal offering of subscription receipts

* Crius energy trust - deal for ‍total consideration of U.S.$152.5 million​

* Crius Energy Trust- acquisition is expected to be highly accretive to distributable cash per unit

* Crius Energy Trust - deal includes ‍approximately U.S.$20 million in working capital​

* Crius Energy Trust - deal for ‍total purchase price of approximately U.S.$172.5 million​

* Crius Energy -cash consideration is expected to be funded from net proceeds of offering and a draw in amount of us$20 million on company’s credit facility​

* Crius Energy - ‍consideration payable or deliverable to selling stockholders of usge in connection with acquisition consists $95 million in cash​

* Crius Energy-‍consideration payable to selling stockholders of U.S.GE in connection with deal also consists of $47.5 million in promissory notes, 3.8 million trust units Source text for Eikon: Further company coverage:

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