Quanta Services Announces Definitive Agreement to Sell ItsrnTelecommunications Subsidiaries to Dycom Industries for $275 Million

摘要

2012 DEC 7 (VerticalNews) -- By a News Reporter-Staff News Editor at Energy Business Journal -- Quanta Services, Inc. (NYSE: PWR) announced that it has entered into a definitive agreement to sell its telecommunications subsidiaries to Dycom Industries, Inc. (NYSE: DY) for approximately $275 million in cash, subject to final adjustments. The subsidiaries included in the transaction comprise substantially all of Quanta's domestic telecommunications infrastructure services operations. Quanta intends to use the proceeds of the transaction to support its ongoing strategic growth initiatives primarily associated with electric power and pipeline infrastructure and for general corporate purposes. The required waiting period under the Hart-Scott Rodino Act has expired, and subject to customary conditions, the transaction is expected to close by December 31, 2012. Stephens Inc. served as financial advisor to Quanta Services in the transaction.