Tervita Corporation Announces End of Competition Bureau Review Period for the Newalta Transaction
Monday, July 22, 2019
CALGARY, July 22, 2019 /CNW/ - Tervita Corporation ("Tervita" or the "Corporation") (TSX: TEV) announced today that the deadline has passed for the Canadian Competition Bureau ("CCB") to challenge Tervita's acquisition of Newalta Corporation ("the transaction") completed on July 19, 2018. As such, the transaction is clear from any further CCB review.
"We are pleased that after a thorough review the CCB decided not to challenge the transaction. Since closing the transaction one year ago, the combined business has significantly enhanced value for our customers and shareholders, and we look forward to continuing to execute our growth plans," said John Cooper, President and CEO of Tervita.
Tervita is a leading waste management and environmental solutions provider offering waste processing, treating, recycling, and disposal services to customers in the oil and gas, mining, and industrial sectors. We serve our customers onsite and through a network of facilities in Canada and the United States.
For 40 years, Tervita has been focused on delivering safe and efficient solutions through all phases of a project while minimizing impact, maximizing returns™. Our dedicated and experienced employees are trusted sustainability partners to our clients. Safety is our top priority: it influences our actions and shapes our culture. Tervita trades on the TSX under the ticker TEV. For more information, visit tervita.com.
This news release contains certain statements that may be "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Forward looking statements are statements that are not historical facts and are often, but not always, identified using words or phrases such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "estimated", "projects", "potential" and similar expressions, or stating that certain actions, events or conditions "will", "would", "may", "might", "could" or "should" occur or be achieved or other similar terminology. In particular, but without limiting the foregoing, this news release contains forward-looking statements or information pertaining to Tervita continuing to execute its growth plans. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in in Tervita's 2019 annual report and in other Tervita public disclosure documents and filings with securities commissions in Canada (available on SEDAR at sedar.com), including factors such as the general economic conditions and dependency on exploration and production activity levels in the markets, changes in environmental regulations and increase in market competition and changes in industry practices, all of which may affect the Corporation's ability to execute on its growth plans. Although Tervita believes the expectations expressed in such forward-looking statements and information are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.
The forward-looking statements and information included in this news release are expressly qualified in their entirety by this cautionary statement. Tervita cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof, and, except as required by law, Tervita does not undertake any obligation to update publicly or to revise any of the included forward-looking statements or information, whether as a result of new information, change in management's estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.
SOURCE Tervita Corporation