May 15, 2018 / 9:27 PM / 4 months ago

BRIEF-Conifex Timber Announces Agreement With Blue Wolf Capital Partners

May 15 (Reuters) - Conifex Timber Inc:

* CONIFEX ANNOUNCES AGREEMENT WITH BLUE WOLF CAPITAL PARTNERS RESULTING IN MAJOR EXPANSION IN SOUTHEASTERN UNITED STATES

* CONIFEX TIMBER - AS A RESULT OF DEAL, CONIFEX’S ANNUAL LUMBER PRODUCTION CAPACITY WILL INCREASE BY APPROXIMATELY 50% TO 1.1 BILLION BOARD FEET

* CONIFEX TIMBER - CO’S CONSIDERATION FOR DEAL HAS $150.0 MILLION PLUS NET WORKING CAPITAL OF BW GROUP AT CLOSING IN CASH

* CONIFEX TIMBER - AS PART OF DEAL, CHARLES MILLER AND GEORGE JUDD SHALL BE APPOINTED TO CONIFEX’S BOARD OF DIRECTORS ON CLOSING OF TRANSACTION

* CONIFEX TIMBER - ESTIMATES THAT INTEGRATING ACQUIRED MILLS WITH ITS EXISTING OPERATIONS WILL GENERATE OVER US$5 MILLION IN SYNERGIES

* CONIFEX TIMBER INC - BELIEVES ANNUAL RUN-RATE BENEFITS WILL BE ACHIEVED WITHIN 12 MONTHS OF CLOSING TRANSACTION

* CONIFEX TIMBER INC - IMMEDIATE CASH FLOW GENERATION AND EARNINGS ACCRETION FROM DEAL Source text for Eikon: Further company coverage:

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