By Adriano Marchese
Tidewater Midstream & Infrastructure said it agreed to sell a non-core roadway network in Alberta for 24 million Canadian dollars ($16.7 million).
The Calgary, Alberta diversified midstream-and-infrastructure company said Thursday that it entered into a definitive agreement with Canadian Resources Roadways to sell the Brazeau River Complex roadway network.
The roadway network is a non-core asset and its sale isn't expected to have a material effect on Tidewater's 2025 operating results, the company said.
Tidewater said the transaction is expected to close in early April, and that it will use the proceeds to pay down its debts.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 06, 2025 07:29 ET (12:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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