Construction / Engineering
AF Gruppen ASA Acquires Demolition Company in Sweden
AF Gruppen ASA announced that the Company has entered into an agreement to acquire 100% of the shares in Harnosand Byggreturer AB. Harnosand Byggreturer AB is a provider of demolition services in Sweden. The Company mainly operates in the Stockholm region, but with capacity to handle projects throughout Sweden.
Aegion Corp Completes Acquisition of Brinderson, L.P. and Announces New $650 Million Credit Facility
Aegion Corp announced that it has completed the acquisition of Brinderson, L.P. announced last week. The transaction purchase price was $150 million. Aegion also announced that it has entered into a new $650 million senior secured credit facility with a syndicate of banks. Bank of America, N.A. served as the administrative agent. Merrill Lynch Pierce Fenner & Smith Incorporated, JPMorgan Securities LLC, and U.S. Bank National Association acted as joint lead arrangers and joint book managers in the syndication of the credit facility. The credit facility consists of a $300 million five-year revolving line of credit and a $350 million five-year term loan facility. The Company drew $385.5 million from the new facility on July 1, 2013 for the following purposes: (1) to pay the $150 million cash purchase price for the Company’s acquisition of Brinderson, L.P., which closed on July 1, 2013; (2) to retire $232.3 million in indebtedness outstanding under the Company’s prior credit facility; and (3) to fund expenses associated with the new credit facility and the Brinderson acquisition. This new facility replaces the Company’s $500 million credit facility. Generally, interest will be charged on the principal amounts outstanding under the credit facility at the British Bankers Association LIBOR rate plus an applicable rate ranging from 1.25% to 2.25% depending on the Company’s consolidated leverage ratio.
Melati Ehsan Holdings Bhd Announces Acquisition Of 100% Equity Interest In Newstar Equity Sdn. Bhd
Melati Ehsan Holdings Bhd announced that the Company has on July 1, 2013 acquired two ordinary shares of RMB1 each representing 100% equity interest in Newstar Equity Sdn. Bhd. (Newstar) from Mr. Yap Kian Mun and Mr. Lim Boon Huay for a cash consideration of RMB2 only (the Acquisition), thus rendering Newstar to be a wholly owned subsidiary of the Company.
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Analyst Research
| Report Title | Price |
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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