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Acasta Enterprises Inc
Symbol C : AEF
Shares Issued 70,215,298
Close 2018-05-10 C$ 2.25
Recent Sedar Documents

Acasta Enterprises to sell JemPak

2018-05-10 17:31 ET - In the News

Mr. Ian Kidson reports

ACASTA ENTERS INTO DEFINITIVE AGREEMENT TO SELL JEMPAK CORPORATION

Acasta Enterprises Inc. has entered into a definitive agreement with Henkel Canada Corp., a wholly owned subsidiary of Henkel AG & Co. KGaA, to sell JemPak Corp. at a purchase price of $118-million on a cash-free and debt-free basis, subject to customary working capital adjustments and indemnities.

"This transaction further improves the capital structure of Acasta as we look to significantly pay down our aggregate indebtedness," commented Ian Kidson, interim chief executive officer of the company.

The parties expect the transaction to close on or about May 31, 2018. The proceeds from the sale of JemPak will be used to further pay down indebtedness.

Canaccord Genuity Corp. served as financial adviser and Goodmans LLP acted as legal counsel to Acasta, respectively.

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