CA - Secure Energy sinks as tribunal says sell 29 facilities acquired from Tervita
2023-03-06 14:53:54 ET
Secure Energy Services ( OTCPK:SECYF ) -20.3% in Monday's trading after Canada's Competition Tribunal issued an order on Friday requiring the company to divest 29 of the 103 facilities acquired in its merger with Tervita Corp.
The order required Secure Energy ( OTCPK:SECYF ) to sell 17 treatment, recovery and disposal facilities; six landfills; four water disposal wells; and two disposal caverns all formerly owned by Tervita.
Secure Energy ( OTCPK:SECYF ) said it will file a notice of appeal together with a motion for a stay of the tribunal's order within 30 days.
The company agreed to buy Tervita in an all-stock deal two years ago .
Secure Energy ( OTCPK:SECYF ) recently reported full-year GAAP earnings of C$0.59/share on revenues of ~C$8B .
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Secure Energy sinks as tribunal says sell 29 facilities acquired from Tervita