Cerberus Boosts Polish Bank Presence by Buying Citi's Retail Operations
Cerberus's VeloBank SA will pay as much as 532 million zloty ($142 million) for Handlowy's retail operations with 8.9 billion zloty of assets in the deal expected for completion in mid-2026, both lenders said in statements. The disposal, sought since 2021, will help Handlowy to focus solely on corporate and investment banking.
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Iron Horse Acquisition Receives Clearance Pursuant to the Competition Act
Calgary, Alberta--(Newsfile Corp. - August 20, 2025) - Trican Well Service Ltd. (TSX: TCW) ("Trican") is pleased to announce that it has received clearance from the Competition Bureau, in the form of a No-Action Letter, with respect to the previously announced acquisition of all of the issued and outstanding shares of Iron Horse Energy Services ("Iron Horse") (the "Acquisition"). Iron Horse is a premium provider of fracturing and coiled tubing services in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin. Under the terms of the Acquisition, Iron Horse shareholders will receive approximately $77.35 million in cash and approximately 33.76 million common shares of Trican. Following closing of the Acquisition, Tom Coolen, Chairman and CEO of Iron Horse, will be appointed to the board of directors of Trican. "We are delighted to have received a no-action letter from the Competition Bureau, completing a critical stage of our acquisition process. This acquisition augments our strategy and aligns with our long-term vision for growth and innovation in Canada. We look forward to better serving customers in all areas of the basin and creating meaningful value for our shareholders," said Brad Fedora, Trican's President and Chief Executive Officer. The Acquisition is expected to close on or about August 27, 2025, subject to the satisfaction or waiver of customary closing conditions and TSX listing approval of the common shares of Trican to be issued pursuant to the Acquisition. FORWARD-LOOKING STATEMENTS This document contains certain forward-looking information based on Trican's current expectations, estimates, projections and assumptions that were made by Trican in light of information available at the time the statement was made. Forward-looking information that addresses expectations or projections about the future, and other statements and information about Trican's strategy for growth, expected and future expenditures, costs, operating and financial results, future financing and capital activities are forward-looking statements. Forward-looking information in this press release is identified by the use of terms and phrases such as "anticipate", "achieve", "estimate", "expect", "intend", "plan", "planned", and other similar terms and phrases. This forward-looking information speaks only as of the date of this document, and we do not undertake to publicly update this forward-looking information except in accordance with applicable securities laws. This forward-looking information includes, among others: statements as to the proposed Acquisition; the anticipated benefits of the Acquisition; and the anticipated completion of the Acquisition and timing thereof. Forward-looking information is based on current expectations, estimates, projections and assumptions, which we believe are reasonable but which may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking information as Trican's actual results may differ materially from those expressed or implied. Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Trican and others that apply to the industry generally. Material factors or assumptions on which the forward-looking information in this press release is based include, among others, the successful closing of the Acquisition, including obtaining necessary stock exchange approvals and satisfying all other conditions to closing, within expected timelines. Additional information about assumptions, risk factors, uncertainties on which the forward-looking information is based and that could cause Trican's actual results to differ materially from any estimates or projects of future performance or results expressed or implied by such forward-looking statements are set forth under the section entitled "Risks Factors" in Trican's Annual Information Form for the year ended December 31, 2024, and under the section entitled "Business Risks" in Trican's management's discussion and analysis for the year ended December 31, 2024, which are each available on Trican's SEDAR+ profile at Readers are also referred to the risk factors and assumptions described in other documents filed by Trican from time to time with securities regulatory authorities. The reader is cautioned not to place undue reliance on forward looking information. ABOUT TRICAN Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion and production cycles. Our team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Requests for further information should be directed to: Bradley P.D. FedoraPresident and Chief Executive Officer Scott E. MatsonChief Financial Officer Phone: (403) 266-02022900, 645 - 7th Avenue S.W. Calgary, Alberta T2P 4G8 Please visit our website at To view the source version of this press release, please visit Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
4 hours ago
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Lowe's to Buy Foundation Building Materials for $8.8B, Lifts Outlook
This article first appeared on GuruFocus. Lowe's (LOW, Financials) said Wednesday it will acquire Foundation Building Materials for $8.8 billion, stepping deeper into the $250 billion professional builder market as do-it-yourself demand remains weak. Warning! GuruFocus has detected 4 Warning Sign with AMZN. Shares rose 2% to $261.70 in early trading after the home improvement chain also raised its annual sales forecast and topped Wall Street's second-quarter profit estimates. Adjusted earnings came in at $4.33 per share, above the $4.24 consensus, on revenue growth tied to contractor sales. Foundation Building Materials supplies drywall, ceilings, metal framing, doors and hardware to about 40,000 pro customers through more than 370 locations in the U.S. and Canada. Lowe's CEO Marvin Ellison said the distributor's platform, combined with April's $1.3 billion Artisan Design acquisition, will significantly enhance the company's Pro offering. The deal, expected to close in Q4 pending regulatory approval, will be financed with a mix of short- and long-term debt. Lowe's now expects annual revenue between $84.5 billion and $85.5 billion, up from a prior $83.5 billion to $84.5 billion range. The move intensifies competition with Home Depot (HD, Financials), which announced in June it would buy GMS (GMS, Financials) for $4.3 billion. Analysts said the urgency in acquisitions highlights the race to secure share in the pro contractor segment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
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The Pasha Group acquires Pacific Northwest transloading assets
The Pasha Group announced it has expanded operations into the Pacific Northwest by acquiring the assets of MacMillan-Piper and Tacoma Transload. Financial terms of the transaction were not disclosed. Pasha was able to acquire the assets from a court-appointed receiver overseeing the finances of troubled grocery supply chain 3PL, and MacMillan-Piper parent, GSC Enterprises. Both GSC and MacMillan-Piper announced mass layoffs last month, with the latter permanently ceasing operations. The deal expands Pasha's network of rail transload facilities and warehouses. It also gives the company expertise in handling agriculture, paper, lumber and steel products. 'This is more than a service expansion—it's a strategic leap forward,' said Pasha President and CEO George Pasha, IV in a news release. 'Bringing the former MacMillan-Piper and Tacoma Transload capabilities into The Pasha Group Family of Companies significantly enhances our ability to deliver high-performance, integrated logistics solutions with the personalized service our customers value.' Pasha's new footprint is expected to serve as a major logistics hub for importers, exporters and intermodal partners at the ports of Seattle and Tacoma. 'We welcome Pasha Logistics as a new partner to the gateway with expanded service offerings,' said Toshiko Hasegawa, Northwest Seaport Alliance co-chair and Port of Seattle president. 'We appreciate that the assets, knowledge, and jobs of MacMillan-Piper, who had been a local industry stalwart since 1969, will continue on through Pasha and we so look forward to working with them and to the growth and evolution of this key partnership.' San Rafael, California-based Pasha is a global logistics and transportation company providing port processing services for automobiles and container and breakbulk cargo. It also provides roll-on, roll-off and ocean container transportation between the U.S. West Coast and Hawaii. More FreightWaves articles by Todd Maiden: 3PLs dominating warehouse leasing market Yellow Corp. to sell Ontario terminal, 2 others for $16M Freight shipment decline streak extends to 30 months, Cass says The post The Pasha Group acquires Pacific Northwest transloading assets appeared first on FreightWaves.
