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BRIEF-Crius Energy announces acquisition of U.S. Gas & Electric Inc for C$110 million

Published 2017-05-30, 04:16 p/m
© Reuters. BRIEF-Crius Energy announces acquisition of U.S. Gas & Electric Inc for C$110 million
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May 30 (Reuters) - Crius Energy Trust KWH_u.TO :

* Crius Energy Trust announces acquisition of U.S. Gas & Electric Inc and C$110 million bought deal offering of subscription receipts

* Crius energy trust - deal for total consideration of U.S.$152.5 million

* Crius Energy Trust- acquisition is expected to be highly accretive to distributable cash per unit

* Crius Energy Trust - deal includes approximately U.S.$20 million in working capital

* Crius Energy Trust - deal for total purchase price of approximately U.S.$172.5 million

* Crius Energy -cash consideration is expected to be funded from net proceeds of offering and a draw in amount of us$20 million on company's credit facility

* Crius Energy - consideration payable or deliverable to selling stockholders of usge in connection with acquisition consists $95 million in cash

* Crius Energy-consideration payable to selling stockholders of U.S.GE in connection with deal also consists of $47.5 million in promissory notes, 3.8 million trust units Source text for Eikon: ID:nCCNnth9Wa Further company coverage: KWH_u.TO

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