Kirby Corporation (NYSE:KEX) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01.
Completion of Acquisition or Disposition of Assets.
Kirby Corporation (NYSE:KEX) Files An 8-K Completion of Acquisition or Disposition of Assets
On February 14, 2018, Kirby Corporation completed the previously announced acquisition of Higman Marine, Inc. and affiliated companies (“Higman”), an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States. The acquisition was completed to a Securities Purchase Agreement dated as of February 4, 2018 between Kirby, Higman and the owners of Higman. The purchase price was approximately $419 million in cash (before post-closing adjustments and transaction fees). The cash consideration was financed from the proceeds of a new issuance of senior notes, which closed on February 12, 2018.
| Item 7.01. |
Regulation FD Disclosure. |
On February 15, 2018, Kirby issued a press release announcing the closing of the acquisition described in Item 2.01. A copy of the press release is furnished with this report as Exhibit 99.1.
| Item 9.01. |
Financial Statements and Exhibits |
(d) Exhibits.
| 99.1 |
Press release of Kirby Corporation dated February 15, 2018. |
KIRBY CORP ExhibitEX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 KIRBY CORPORATION Contact: Eric Holcomb 713-435-1545 FOR IMMEDIATE RELEASE KIRBY CORPORATION CLOSES ACQUISITION OF HIGMAN MARINE,…To view the full exhibit click here
About Kirby Corporation (NYSE:KEX)
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii. Its engine services segment, sells replacement parts, provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines, transmissions, reduction gears, pumps and compression products, maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines.