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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: PI Financial Corp
Provider: PI Financial Corp

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Macro Enterprises Inc's Subsidiaries Announce To Acquire Pipeline Construction And Maintenance Business

Monday, 19 Nov 2012 09:00am EST 

Macro Enterprises Inc announced that wholly-owned subsidiaries have entered into an agreement to acquire the business owned and operated by North American Pipeline Inc. and North American Fleet Company Ltd. of constructing, installing, maintaining, testing and repairing pipelines and facilities in the oil and gas industry throughout Western Canada together with certain assets used in carrying on the business including pipeline construction machinery and equipment. In addition, the purchasers will take an assignment of a master services agreement with a major pipeline company to test and maintain certain aspects of its pipeline network. The parties will enter into a transition services agreement on closing to facilitate transition of the business to the purchasers. The purchase price is $16,250,000, subject to normal adjustments, and is payable in full in cash on closing of the transaction. The transaction is subject to receipt of the consents and approvals necessary or advisable in connection with the transaction including the approval of the TSX Venture Exchange. 

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