Total Energy Services Completes Savanna Energy Services Acquisition
Total Energy Services Inc. revealed that it has completed its acquisition of Savanna Energy Services Corp.
At a meeting held in Calgary, Alberta, the holders of common shares of Savanna overwhelmingly approved the amalgamation of the company and 2043324 Alberta Ltd., a wholly-owned subsidiary of Total Energy, with 99.99 percent of shares voted cast in favor of the amalgamation.
“With the acquisition of Savanna behind us, management can now focus on bringing our two companies together so as to achieve the efficiencies and economies of scale necessary to effectively compete in the marketplace,” Daniel Halyk, president and CEO of Total Energy, said in a company statement.
“I am encouraged by the positive attitude of employees of both Savanna and Total Energy, whose input and support will contribute to a stronger and more efficient organization that will benefit all stakeholders,” he added.
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