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BRIEF-North American Construction Group Takes A Major Revenue Diversification Step

Published 2018-09-20, 06:17 a/m
© Reuters.  BRIEF-North American Construction Group Takes A Major Revenue Diversification Step
NOA
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Sept 20 (Reuters) - North American Construction Group Ltd NOA.TO :

* NORTH AMERICAN CONSTRUCTION GROUP TAKES A MAJOR REVENUE DIVERSIFICATION STEP WITH THE ACQUISITION OF OWNERSHIP INTEREST IN NUNA LOGISTICS

* NORTH AMERICAN CONSTRUCTION GROUP LTD - MAJORITY 51PCT OWNERSHIP INTEREST IN NUNA IS HELD BY KITIKMEOT CORPORATION

* NORTH AMERICAN CONSTRUCTION GROUP LTD - TRANSACTION IS EXPECTED TO PROVIDE NACG WITH APPROXIMATELY 20PCT OF INCREMENTAL AND DIVERSIFIED REVENUE

* NORTH AMERICAN CONSTRUCTION GROUP LTD - ANTICIPATES SYNERGIES TO BE FULLY REALIZED WELL WITHIN TWO YEARS FROM CLOSING OF TRANSACTION

* NORTH AMERICAN CONSTRUCTION - ENTERED AGREEMENT TO ACQUIRE 49% OWNERSHIP INTEREST IN NUNA LOGISTICS LIMITED, RELATED COS FOR $42.5 MILLION IN CASH

* NORTH AMERICAN CONSTRUCTION GROUP LTD - TRANSACTION WILL BE FULLY FINANCED USING NACG'S EXISTING CREDIT FACILITY

* NORTH AMERICAN CONSTRUCTION - NUNA'S ASSET LIGHT BUSINESS MODEL TO RESULT IN ACCRETIVE EBITDA, FREE CASH FLOW & EARNINGS, BEFORE MEANINGFUL SYNERGIES

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