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Slide #3. Cervus Equipment Corporation — Remaining shares of Windmill AG Pty Ltd. and additional Australian dealership
Cervus Equipment Corporation (CVL.CA)
Remaining shares of Windmill AG Pty Ltd. and additional Australian dealership
Cervus Equipment Corporation ("Cervus" or the "Company") (TSX: CVL) today announced that it has completed the acquisition of the remaining 46.7% interest in Windmill AG Pty Ltd. ("Windmill") that it did not already own. The purchase price of $1,654,290 (AUS$1,627,758 at $1.0163 Canadian per Australian dollar) was paid via the issuance of 67,483 common shares of Cervus at a deemed price of $22.59 per share and $129,840 cash (AUS$127,758 at 1.0163 Canadian per Australian dollar). Cervus also announced that it has acquired Western Farm Service Pty Ltd., a John Deere dealership located in Melbourne for a purchase price of $4,277,300 (AUS$4,205,000), subject to final closing adjustments.
Cervus Equipment is engaged in retailing of agricultural, construction and industrial equipment, parts and services in Western Canada and New Zealand. Co. operates 2 business segments, an Agricultural Equipment segment, and a Construction and Industrial Equipment segment. The Agricultural Equipment segment consists primarily of 21 John Deere dealerships with 15 in Alberta, Saskatchewan and British Columbia and 6 in New Zealand. The Construction and Industrial Equipment segment consists primarily of 15 dealerships, 5 Bobcat and JCB dealerships operating in Alberta and 10 Clark, Sellick, Nissan and Doosan material handling equipment dealerships operating in Alberta, Saskatchewan and Manitoba.
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