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BRIEF-North American Construction Group Announces Expansion Of Heavy Construction Fleet Via An Attractive Acquisition

Published 2018-10-03, 06:11 a/m
© Reuters.  BRIEF-North American Construction Group Announces Expansion Of Heavy Construction Fleet Via An Attractive Acquisition
NOA
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Oct 3 (Reuters) - North American Construction Group Ltd NOA.TO :

* NORTH AMERICAN CONSTRUCTION GROUP ANNOUNCES EXPANSION OF HEAVY CONSTRUCTION FLEET VIA AN ATTRACTIVE ACQUISITION

* NORTH AMERICAN CONSTRUCTION GROUP LTD - DEAL FOR $199.1 MILLION IN CASH

* NORTH AMERICAN CONSTRUCTION GROUP - EXPECT TRANSACTION TO BE ACCRETIVE TO EBITDA, FREE CASH FLOW AND EARNINGS

* NORTH AMERICAN CONSTRUCTION GROUP - ANTICIPATE 2019 BASIC EARNINGS PER SHARE COULD EXCEED $1.60, SUBJECT TO TRANSACTION CLOSING BY END OF 2018

* NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH NACG'S EXISTING LENDERS

* NORTH AMERICAN CONSTRUCTION - NACG INTENDS TO USE OPERATIONAL CASH FLOW TO DE-LEVER ITS BALANCE SHEET BY AROUND $150 MILLION OVER NEXT THREE YEARS

* NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH CO'S EXISTING LENDERS

* NORTH AMERICAN CONSTRUCTION - $10 MILLION DEPOSIT PAID UPON SIGNING AGREEMENT; BALANCE DEAL PRICE TO BE PAID IN 4 INSTALMENTS

* NORTH AMERICAN CONSTRUCTION - ENTERED DEFINITIVE PURCHASE & SALE AGREEMENT TO BUY HEAVY CONSTRUCTION EQUIPMENT FLEET & RELATED ASSETS OF AECON GROUP

* NORTH AMERICAN CONSTRUCTION GROUP - TRANSACTION EXPECTED TO PROVIDE CO WITH OVER $220 MILLION OF ADDITIONAL ANNUAL REVENUE CAPABILITY

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