Mullen to acquire Kleysen Investments
May 1, 2006 12:00 PM
The Mullen Group Income Fund has signed an agreement to acquire Kleysen Investments Ltd, a private family-owned corporation based in Winnipeg, Manitoba, and operating since 1935. Kleysen is a diversified Canadian-based transportation and logistics company offering four integrated services, including bulk transportation, deck transportation, multi-commodity transload services, and intermodal transportation services.
The transaction is expected to have closed by the end of April 2006, subject to the completion of due diligence and other customary conditions. Mullen will finance the purchase price from its existing bank facilities and by the issuance of trust units to certain Kleysen family members.
Mullen also announced a mailing date of May 10, 2006, for the joint information circular relating to the previously announced merger between Mullen and Producers Oilfield Services Inc. As a result of this merger and the previously announced acquisitions, Mullen will release its first quarter financials for the period Jan 1, 2006, to March 31, 2006, after the circular is mailed.
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