TransForce amends purchase agreement for courier fleet
MONTREAL — TransForce Income Fund has revised its letter of intent to purchase Century II Holdings Inc., parent of ICS Courier, which services the insurance, optical, financial, travel, dental and legal business sectors across Canada.
The amendment provides for a fixed purchase price of $10.20 for each of the issued and outstanding shares of Century II Holdings. Previously, the agreement provided for a purchase price equal to the aggregate of $8.00 plus the working capital of Century II as at the closing date.
TransForce and Century II have targeted completion of the acquisition by October 31, 2007.
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