Brief: Advanced Emissions Solutions Announces Agreement To Acquire Ada Carbon Solutions

Arq

15/11/2018 22:35

Nov 15 (Reuters) - Advanced Emissions Solutions Inc
 ADES.O :
    * ADVANCED EMISSIONS SOLUTIONS, INC. ANNOUNCES AGREEMENT TO
ACQUIRE ADA CARBON SOLUTIONS, LLC, PROVIDES REFINED COAL
BUSINESS UPDATE AND REAFFIRMS CAPITAL ALLOCATION PLAN
    * ADVANCED EMISSIONS SOLUTIONS INC - TOTAL CONSIDERATION FOR
THIS
ACQUISITION IS $75 MILLION
    * ADVANCED EMISSIONS SOLUTIONS INC - CARBON SOLUTIONS IS
PROJECTED
TO DELIVER ROUGHLY $73 MILLION IN ADJUSTED PRO-FORMA REVENUE FOR
FISCAL 2018
    * ADVANCED EMISSIONS SOLUTIONS INC - TRANSACTION IS EXPECTED
TO
CLOSE BY END OF 2018 AND WILL BE IMMEDIATELY ACCRETIVE TO
EARNINGS
    * ADVANCED EMISSIONS SOLUTIONS INC - FUTURE NET REFINED COAL
CASH
FLOWS TO ADES ARE EXPECTED TO BE BETWEEN $225 MILLION AND $250
MILLION THROUGH END OF 2021
    * ADVANCED EMISSIONS SOLUTIONS INC - REAFFIRMS ITS DIVIDEND
AND
SHARE REPURCHASE PROGRAMS
    * ADVANCED EMISSIONS SOLUTIONS - PURCHASE PRICE IS EXPECTED
TO BE
FUNDED THROUGH A $70.0 MILLION SECURED TERM LOAN AND $10.0
MILLION OF ASSUMED CAPITAL LEASES

Source text for Eikon:  ID:nGNX4t7P3G 
Further company coverage:  ADES.O