National Oilwell Varco Completes Acquisition of CE Franklin
2012年7月20日 - 2:23AM
ビジネスワイヤ(英語)
National Oilwell Varco, Inc. (NYSE: NOV) ("NOV")
and CE Franklin Ltd. (NASDAQ: CFK; TSX: CFT) ("CE
Franklin") announced today that NOV Distribution Services ULC
("NDS"), a wholly-owned subsidiary of NOV, has completed its
previously-announced acquisition of CE Franklin pursuant 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.
About CE Franklin
For more than 75 years, CE Franklin has been a leading supplier
of products and services to the energy industry. CE Franklin
distributes pipe, valves, flanges, fittings, production equipment,
tubular products and other general oilfield supplies to oil and gas
producers in Canada as well as to the oil sands, refining, heavy
oil, petrochemical, forestry and mining industries. These products
are distributed through its 39 branches, which are situated in
towns and cities serving particular oil and gas fields of the
western Canadian sedimentary basin.
About NOV
National Oilwell Varco is a worldwide leader in the design,
manufacture and sale of equipment and components used in oil and
gas drilling and production operations, the provision of oilfield
services, and supply chain integration services to the upstream oil
and gas industry.
Forward-looking Statements: The information in this news
release may contain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934; within the meaning of Canadian
securities law and other applicable securities legislation. All
statements, other than statements of historical facts, that address
activities, events, outcomes and other matters that CE Franklin
plans, expects, intends, assumes, believes, budgets, predicts,
forecasts, projects, estimates or anticipates (and other similar
expressions) will, should or may occur in the future are
forward-looking statements. These forward-looking statements are
based on management’s current belief, based on currently available
information, as to the outcome and timing of future events. When
considering forward-looking statements, you should keep in mind the
risk factors and other cautionary statements and refer to the Form
20-F or our annual information form for further detail.
CE Franklin Ltd. (MM) (NASDAQ:CFK)
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