ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

National Oilwell Varco Completes Acquisition of CE Franklin

Friday, July 20th, 2012

National Oilwell Varco, Inc. and CE Franklin Ltd. announced today that NOV Distribution Services ULC, a wholly-owned subsidiary of NOV, has completed its previously-announced acquisition of CE Franklinpursuant to a plan of arrangement. The arrangement resulted in NDS acquiring all of the issued and outstanding common shares of CE Franklin for cash consideration of CAD$12.75 per share.

The arrangement was approved by the shareholders of CE Franklin and by the Court of Queen’s Bench of Alberta on July 16, 2012. Articles of Arrangement have been filed by CE Franklin with the Registrar of Corporations for the Province of Alberta (pursuant to section 193 of the Business Corporations Act (Alberta)) and the arrangement became effective today.

Pursuant to the arrangement, NDS paid an aggregate of approximately CAD$239 million to acquire CE Franklin.CE Franklin is now a wholly owned subsidiary of NDS.

The common shares of CE Franklin are expected to be voluntarily delisted from the TSX and NASDAQ by the end of July 2012.

Source

Be Sociable, Share!

Tags: , , ,

Leave a Reply

You must be logged in to post a comment.





SPONSORED ADVERTS

























rogtec
Tel: +350 2162 4000    Fax:+350 2162 4001
ROGTEC Magazine © 2009/2014 - All rights Reserved | Legal Disclaimer
Website design and development by Saul Haslam and Tictac Studio - SEO by Solar Internet Specialists in SEO Spain
ROGTEC Magazine in LinkedIn ROGTEC Magazine Feed
ROGTEC Magazine in englishROGTEC Magazine in russian