Chemtrade Announces Receipt of Regulatory Approvals
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TORONTO, Ontario, March 8, 2017 – Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) announced today that the Canadian Competition Bureau issued a no-action letter under the (Canada) in respect of its proposed acquisition of Canexus Corporation (the “Transaction“). As a result, the parties have now received approvals for the Transaction from Canexus shareholders and the Court of Queen’s Bench of Alberta and the conditions relating to regulatory approval have been satisfied. Subject to the satisfaction of customary closing conditions, Chemtrade anticipates completing the Transaction on March 10, 2017.
Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, potassium chloride, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.
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For further information:
President & CEO
Tel: (416) 496-4176
Vice President, Finance & CFO
Tel: (416) 496-4177