Canadian Equipment Rental Fund said this week its unitholders have approved a reverse takeover of the company by Edmonton, Alberta, Canada-based 4-Way Equipment Rentals Corp. Under the agreement, CERP will transfer all property, assets, rights and undertaking related to the business to 4-Way in exchange for class A shares of the company.
After the agreement, 4-Way will become a wholly owned subsidiary of the partnership.
In a separate deal, CERF said its general partner, CERF GP Corp., has signed a letter of intent to acquire an unidentified Alberta-based integrated waste management company for about CA $5.7 million in cash and shares.
