December 19, 2016 / 9:44 PM / 8 months ago

BRIEF-Tidewater announces strategic core-area acquisition

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Dec 19 (Reuters) - Tidewater Midstream And Infrastructure Ltd

* Deal for $30 million

* Through to Dec 19, co has spent approximately $40 million of $125 million 2016 and 2017 capital budget

* Through Dec 19, remaining capital funding requirement of about $85 million left for remainder of 2016 and 2017 existing projects

* Anticipates deal will generate annualized EBITDA of about $4.5 million including related operational synergies

* Entered into an agreement in which underwriters will purchase for sale 38.5 million shares at $1.56 per common share

* Announces strategic core-area acquisition, $60 million bought deal offering of common shares and confirms fourth quarter 2016 dividend Source text for Eikon: Further company coverage:

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