TWC Enterprises Limited Announces Plans to Divest White Pass & Yukon Route to Carnival Corporation & plc

Jun 07, 2018

KING CITY, Ontario, June 06, 2018 (GLOBE NEWSWIRE) -- Today, TWC Enterprises Limited (TSX:TWC, Financial) (“TWC”) announced that it has entered into a purchase and sale agreement to sell the White Pass & Yukon Route (“White Pass”) rail and port operations based out of Skagway, Alaska, to Carnival Corporation & plc (“Carnival plc”) for proceeds of US$290,000,000 (debt, income taxes and other liabilities which are expected to be approximately US$70,000,000 - $80,000,000 to be deducted from the proceeds). TWC has the option of taking up to US$84,000,000 proceeds in Carnival plc shares.

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