ALS to buy global services company

Shares halted ahead of raising to fund $579 million Reservoir acquisi

Analytical testing services group ALS Ltd will buy global oil and gas services provider Reservoir from US-based SCF Partners to increase its exposure to the growing oil and gas industries.

ALS will pay $579 million for the UK-based company and its shares have been put in a trading halt until Friday as it launches a $246 million rights issue for shareholders to help fund the acquisition.


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