Civeo To Acquire Four Villages In Australia's Bowen Basin - Quick Facts

(RTTNews) - Civeo Corporation (CVEO) has entered into a definitive asset purchase agreement with a private seller for Civeo to acquire four villages with 1,340 rooms in Australia's Bowen Basin and the associated long-term customer contracts. Civeo would acquire the assets and customer contracts for A$105 million, or approximately $67 million.

"Upon closing, we expect the transaction to be immediately accretive to operating cash flow. We have strategically built a capital structure that enables us to allocate capital where we see attractive returns, balancing value-enhancing growth and continuing to return capital to shareholders through our dividend and share repurchase program. We look forward to discussing this announcement on our upcoming earnings call later this month," said Bradley Dodson, President and CEO.