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Civeo to Acquire Four Villages in Australian Bowen Basin

1. Civeo acquires four villages in Australia's Bowen Basin for A$105 million. 2. The acquisition includes long-term customer contracts, enhancing Civeo's portfolio.

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FAQ

Why Bullish?

The acquisition increases Civeo's asset base and contractual revenue streams, potentially boosting its market valuation. Similar past acquisitions have strengthened companies' financial positions, positively influencing stock prices.

How important is it?

The acquisition supports Civeo's growth strategy and improves its operational footprint, indicating a commitment to expanding its market share, thus impacting investor confidence.

Why Long Term?

This acquisition will gradually enhance revenue and market positioning, leading to sustainable growth over time. Past acquisitions typically show delayed but consistent positive impacts on stock performance.

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HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that it has entered into a definitive asset purchase agreement with a private seller for Civeo to acquire four villages with 1,340 rooms in Australia's Bowen Basin and the associated long-term customer contracts. Under the terms of the agreement, Civeo would acquire the assets and customer contracts for total cash consideration of A$105 million, or approximately US$67 million, funded with cash on hand and borrowings from it.

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