CCNMatthews - January 26, 2006
SMK Speedy International Inc. ('Speedy') today announced it has entered into an agreement to sell and leaseback the real estate for 58 company owned properties. The agreement is subject to certain conditions including due diligence and the transaction is expected to close in late March or April.
The proceeds from the successful completion of this transaction will be substantially used to provide full and early repayment of the $19 million principal and approximately $2.6 million of the deferred interest to the Senior Subordinated Noteholders
SMK Speedy is a leading automobile service specialist with 88 company operated and 32 franchise stores under contracts with SMK Speedy International Inc. or 984781 Alberta Ltd. a subsidiary of 578098 Alberta Ltd.
Sphere: Related Content
Friday, January 27, 2006
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment