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CCS Income Trust acquires assets of Grizzly/Hi-West & Poncho Well Servicing valued at US$285 million

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Overview

Client

CCS Income Trust

On May 1, 2006, CCS Income Trust completed the acquisition of assets from Grizzly/Hi-West & Poncho Well Servicing and its related companies for approximately $285 million paid partially in cash and partially in trust units. The acquisition included the purchase of 86 well servicing rigs, related equipment and inventory. Headquartered in Calgary, CCS Income Trust is a trust that provides energy and environmental waste management services through its four divisions: CCS Energy Services, HAZCO Environmental Services, Concord Well Servicing and CCS Energy Marketing. CCS Income Trust was represented by Burnet, Duckworth & Palmer LLP and by Fasken Martineau with a team that included Huy Do and Aaron Stefan advising on competition matters.

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