CCS Income Trust completes going private transaction

    CALGARY, Nov. 14 /CNW/ - CCS Income Trust ("CCS" or the "Trust") is
pleased to announce the closing of its previously announced going private
transaction with an investor group led by Mr. David Werklund, the Founder,
President and Chief Executive Officer of CCS, and which includes CAI Capital
Partners, Goldman Sachs Capital Partners, Kelso & Company, Vestar Capital
Partners, British Columbia Investment Management Corporation, Alberta
Investment Management and O.S.S. Capital Management L.P.
    Each public securityholder of CCS will receive $46.00 per Trust Unit or
exchangeable share equivalent as purchase consideration. In addition, CCS
hereby confirms that the special distribution of $0.07583 per unit declared
payable conditional on the completion of closing will be paid to unitholders
of record on the close of business on November 15, 2007 and to non-resident
Securityholders who elected to have their units purchased directly by the
investor group on the day of closing. The Trust anticipates that trading in
the trust units of the Trust will be halted prior to the opening of markets on
November 16, 2007 and will be de-listed from the Toronto Stock Exchange at the
close of trading on November 16, 2007.
    For any questions relating to the payment of your unit or exchangeable
share consideration, please contact Computershare Investor Services Inc.
directly at 1-800-564-6253.

    About CCS

    CCS is a recognized industry leader providing integrated and
environmentally responsible services to upstream and downstream oil and gas
companies in Canada and the U.S. Headquartered in Calgary, Alberta, CCS has
almost 3,000 employees and provides a diverse number of services across four
divisions. CCS Midstream Services provides oilfield waste treatment, recovery
and disposal through a network of facilities across Western Canada and in the
United States. CCS Energy Marketing provides crude oil and condensate
marketing services. HAZCO Environmental Services offers integrated
remediation, waste management and decommissioning solutions including the
operation of engineered landfills throughout Canada. Concord Well Servicing
manages well completions, workovers and abandonments with a fleet of 143 rigs.
Additional integrated services include NORM management, regulatory compliance
expertise, inactive well management, well and pipeline abandonments, oilfield
equipment rental, metals recycling and geotechnical and environmental

    Forward-looking statements

    This news release contains "forward-looking statements" within the
meaning of applicable securities laws relating to the proposal to take the
Trust private, including statements regarding the completion of the previously
announced going private transaction, the payment and receipt of a special
distribution of the Trust, and the date such distribution is expected to be
paid. Readers are cautioned not to place undue reliance on forward-looking
statements. Actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the risks
that the parties will not proceed with the transaction, that the ultimate
terms of the transaction will differ from those that currently are
contemplated, and that the transaction will not be successfully completed for
any reason (including the failure to obtain the required approvals or
clearances from regulatory authorities). The statements in this news release
are made as of the date of this release. We undertake no obligation to comment
on analyses, expectations or statements made by third parties in respect of
the Trust, its financial or operating results or its securities.

    %SEDAR: 00017961E

For further information:

For further information: Investors: David Werklund, President and Chief
Executive Officer, Phone: (403) 233-7565; Marshall McRae, Chief Financial
Officer, Phone: (403) 231-1103; Media: David Ryan, Longview Communications,
Phone: (604) 562-5895; Shauna Lowry, Corporate Communications Manager, Phone:
(403) 231-1127

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890