August 13, 2018 / 12:31 PM / 3 months ago

Canada's Ensign to buy Trinidad Drilling in C$947 mln deal

Aug 13 (Reuters) - Canadian oilfield services provider Ensign Energy Services Inc said on Monday it plans to buy Trinidad Drilling Ltd in a deal valued at C$947 million ($720.26 million) including debt.

Ensign’s offer of C$1.68 per Trinidad share represents a premium of 11.3 percent to the company’s Friday close.

The deal value includes Trinidad’s outstanding net debt of C$477 million as of June 30, Ensign said in a statement. ($1 = 1.3148 Canadian dollars) (Reporting by Laharee Chatterjee in Bengaluru; Editing by Arun Koyyur)

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