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Slide #20. ECOSERV — Newpark Resources Environmental Services Business
Newpark Resources Environmental Services Business (NYSE:NR)
Newpark Resources, Inc. (NYSE: NR) today announced that it has entered into a definitive agreement to sell its Environmental Services business to ECOSERV, LLC, a portfolio company of Denver-based private equity group Lariat Partners, LP. Under the terms of the agreement, Newpark will receive $100 million in cash, subject to adjustment based on actual working capital conveyed at closing. While containing representations, warranties and indemnities which are customary for transactions of this nature, this agreement significantly limits Newpark's post-closing environmental obligations, including those related to the waste transfer and disposal facilities.
Strong Buy (4.00 out of 4)
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