Edition:
India

North American Construction Group Announces Expansion Of Heavy Construction Fleet Via An Attractive Acquisition


Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - North American Construction Group Ltd ::NORTH AMERICAN CONSTRUCTION GROUP ANNOUNCES EXPANSION OF HEAVY CONSTRUCTION FLEET VIA AN ATTRACTIVE ACQUISITION.NORTH AMERICAN CONSTRUCTION GROUP LTD - DEAL FOR $199.1 MILLION IN CASH.NORTH AMERICAN CONSTRUCTION GROUP - EXPECT TRANSACTION TO BE ACCRETIVE TO EBITDA, FREE CASH FLOW AND EARNINGS.NORTH AMERICAN CONSTRUCTION GROUP - ANTICIPATE 2019 BASIC EARNINGS PER SHARE COULD EXCEED $1.60, SUBJECT TO TRANSACTION CLOSING BY END OF 2018.NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH NACG'S EXISTING LENDERS.NORTH AMERICAN CONSTRUCTION - NACG INTENDS TO USE OPERATIONAL CASH FLOW TO DE-LEVER ITS BALANCE SHEET BY AROUND $150 MILLION OVER NEXT THREE YEARS.NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH CO'S EXISTING LENDERS.NORTH AMERICAN CONSTRUCTION - $10 MILLION DEPOSIT PAID UPON SIGNING AGREEMENT; BALANCE DEAL PRICE TO BE PAID IN 4 INSTALMENTS.NORTH AMERICAN CONSTRUCTION - ENTERED DEFINITIVE PURCHASE & SALE AGREEMENT TO BUY HEAVY CONSTRUCTION EQUIPMENT FLEET & RELATED ASSETS OF AECON GROUP.NORTH AMERICAN CONSTRUCTION GROUP - TRANSACTION EXPECTED TO PROVIDE CO WITH OVER $220 MILLION OF ADDITIONAL ANNUAL REVENUE CAPABILITY. 

Company Quote

18.61
-0.11 -0.59%
23 Aug 2019