Civeo to Acquire Four Villages in Australian Bowen Basin
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Civeo Corporation (NYSE:CVEO) is set to acquire four villages in Australia's Bowen Basin, including 1,340 rooms and long-term customer contracts, for A$105 million (US$67 million). The acquisition will be funded with cash on hand and borrowings.
February 19, 2025 | 11:45 am
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Civeo Corporation is acquiring four villages in Australia's Bowen Basin for A$105 million, enhancing its asset base and customer contracts. The acquisition is funded by cash and borrowings.
The acquisition of four villages in a strategic location like the Bowen Basin is likely to enhance Civeo's asset base and customer reach, potentially leading to increased revenues. The use of cash and borrowings indicates a strong financial position, which is positive for investors.
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