OTCPK:ICPVF - Post by User
Comment by
hawk35on Mar 19, 2020 9:59am
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Post# 30825803
RE:IPL Communication
RE:IPL CommunicationBased on what the company had said previously, I was expecting the company to make a decision to sell the storage business by the end of Q2. Today's announcement suggests things are further along than I realized.
We will get more information on their decision in a few weeks. Any deal would close at the end of Q2 (mid year point).
This timing and the fact they are talking about a closing date suggests to me they are well along in the due dilegence process. Nothing is certain but I suspect a sale is going to happen.
Bulk Liquid Storage Sale Process
Inter Pipeline's process to explore the sale of the bulk liquid storage business remains active and we expect to provide a more detailed market update on the status of the sales process within the next few weeks.
Should a definitive transaction be concluded, the process is expected to be completed by mid 2020 with proceeds from the full or partial sale used to reduce debt and finance our capital expenditure program.