Tidewater Midstream Completes Strategic Acquisition

Tidewater Midstream and Infrastructure (TSE:TWM) has released an update.

Tidewater Midstream and Infrastructure Ltd. has successfully completed the acquisition of assets from Tidewater Renewables, including various refinery units and a natural gas storage facility, for $122 million plus liabilities and BC LCFS credits. The deal is expected to significantly increase Tidewater’s EBITDA by $40 to $50 million annually and has been supported by an expanded credit facility and a new term loan to finance the acquisitions.

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