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5 months ago
BRIEF-Savanna Energy Services announces impact of Total Energy Services offer
March 27, 2017 / 11:39 AM / 5 months ago

BRIEF-Savanna Energy Services announces impact of Total Energy Services offer

March 27 (Reuters) - Savanna Energy Services Corp:

* Savanna Energy Services - acknowledges Total Energy Services has satisfied minimum tender condition pursuant to offer to purchase all shares of Savanna

* Savanna Energy Services - total announced has extended period for tender of additional Savanna shares under total offer to 12:00 p.m. On April 7,2017

* Savanna Energy Services - on acquisition of over 50pct of outstanding shares of co, event of default occurs under co's first, second lien credit facilities

* Savanna Energy Services Corp - in discussions with its lenders with respect to impact of event of default

* Savanna Energy Services Corp - expects lenders will not immediately take steps with respect to default Source text for Eikon: Further company coverage:

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