August 29, 2016 / 1:37 PM / a year ago

BRIEF-High arctic energy services announces acquisition of Tervita Corp's production services division

Aug 29 (Reuters) - High Arctic Energy Services Inc

* 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: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below