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BRIEF-Trican Well Service reaches agreement for sale of its Completion tools business for C$53.5 mln

Published 2016-06-01, 03:22 p/m
© Reuters.  BRIEF-Trican Well Service reaches agreement for sale of its Completion tools business for C$53.5 mln
NOV
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June 1 (Reuters) - Trican Well Service Ltd:
* Trican Well Service reaches agreement for sale of its
completion tools business for CAD$53.5 million
* Total consideration payable to Trican consist of cash
consideration of C$30 million and share consideration totaling
C$23.5 million
* Entered agreement with units of National Oilwell Varco (NYSE:NOV) for
sale of Trican's completion tools business
* Intends to use net cash proceeds from transaction to
reduce its outstanding debt

Source text for Eikon: ID:nCCN2s3B0M
Further company coverage: TCW.TO

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