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SECURE ENERGY REVIEWING DECISION OF FEDERAL COURT OF APPEAL REGARDING ITS MERGER WITH TERVITA
SECURE ENERGY REVIEWING DECISION OF FEDERAL COURT OF APPEAL REGARDING ITS MERGER WITH TERVITA ...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n \n \n \n SECURE ENERGY REVIEWING DECISION OF FEDERAL COURT OF APPEAL REGARDING ITS MERGER WITH TERVITA\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n SECURE considering options for potential appeal to Supreme Court\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 2, 2023\n \n \n /CNW/ - SECURE ENERGY Services Inc. (\"SECURE\" or the \"Corporation\") announced today that the Federal Court of Appeal (\"FCA\") dismissed SECURE's appeal of the\n \n March 3, 2023\n \n decision of the Competition Tribunal (\"Tribunal\") regarding its merger with Tervita Corporation (\"Tervita\"), ordering SECURE to divest 29 facilities (\"Facilities\").\n \n \n SECURE respectfully disagrees with the outcome and is carefully considering the decision and reviewing its options with respect to a potential appeal to the Supreme Court of\n \n Canada\n \n , including a motion for a stay of the Tribunal's order.\n \n \n The FCA's decision, upholding the Tribunal's order to divest the Facilities, could have a material impact on the business, financial condition or results of operations of the Corporation. If such decision is not overturned or modified on appeal, SECURE is prepared to execute a competitive sale process for these attractive and valuable assets and would expect to receive sale proceeds relating to such divestitures which could mitigate, in whole or in part, any such impact.\n \n \n Rene Amirault, Chief Executive Officer of SECURE, stated: \"Although we are disappointed with the outcome, we thank the Federal Court of Appeal for their work in rendering their decision. We continue to believe that the merger of SECURE and Tervita has and will continue to enable SECURE to better serve our customers, pursue our ESG objectives, and continue to achieve significant efficiencies in our operations.\"\n \n \n \n ABOUT SECURE\n \n \n \n SECURE is a leading environmental and energy infrastructure business headquartered in Calgary,\n \n Alberta\n \n . The Corporation's extensive infrastructure netw...