October 30, 2017 / 1:18 PM / 2 years ago

BRIEF-CWC Energy Services to acquire C&J Energy Services' Canadian service and swabbing rig assets

Oct 30 (Reuters) - CWC Energy Services Corp

* CWC Energy Services to acquire C&J Energy Services’ Canadian Service and swabbing rig assets becoming the largest active service rig contractor in Canada

* CWC Energy Services - ‍To buy service and swabbing rig assets and ongoing operations of C&J Production Services-Canada for C$37.5 million

* CWC Energy Services Corp - ‍Transaction is expected to be accretive to CWC on an adjusted EBITDA, cash flow and earnings per share basis​

* CWC Energy Services - ‍Combined assets are expected to result in SG&A expense synergies of approximately $4.3 million annually​

* CWC - Deal to be financed initially from co’s expanded credit facilities with co’s existing banking syndicate & then through equity rights offering​ Source text for Eikon: Further company coverage:

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