Deals
Trican Falls to 15-Year Low as Debt Weighs After Russia Deal
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Trican Well Service Ltd. fell to the lowest in 15 years after saying there’s a risk it won’t emerge from the oil slump, even following a $140 million deal to sell its Russian unit that brings the company closer to an agreement with lenders.
Shares of Canada’s largest fracking service provider fell 32 percent to close at C$1.35 at 4:45 p.m. in Toronto, the biggest-ever slide. The stock erased an earlier surge on Friday’s announcement of the sale of Calgary-based Trican’s pressure-pumping business in Russia to a subsidiary of state-backed OAO Rosneft.