Newpark Resources Sells Fluids Systems Segment for Base Price of $127.5 Million

MT Newswires Live09-14

Newpark Resources (NR) said late Friday it has completed the sale of its Fluids Systems segment to SCF Partners for a base price of $127.5 million.

The company said it expects to recognize a loss on the transaction. As a result, Newpark is estimated to generate additional US federal net operating loss tax benefits of about $7 million to $10 million, which along with existing tax benefits, can be used to offset future federal tax obligations.

The final purchase price remains subject to adjustments based on final working capital, taxes and liabilities, debt and cash conveyed at closing, the company said.

Price: 7.20, Change: +0.08, Percent Change: +1.12

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