March 18, 2019 / 10:27 AM / 8 months ago

BUZZ-Precision Drilling Corp: Divests assets in Mexico for $48 mln

** Canadian oilfield services provider to divest five idle drilling rigs and related equipment located in Mexico for $48 mln

** Also divests water treatment business, Terra Water Systems, for an undisclosed amount

** At close of deal, Precision will have no assets in Mexico

** Separately, initiates redemption of $30 mln of its 6.50 pct senior notes due 2021 on pro rata basis with available cash on hand with payment to be made on April 16

** Up to Friday’s close, stock up 27 pct YTD (Reporting by Shanti S Nair in Bengaluru)

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