EnergySolutions Signs Definitive Agreement to Acquire Waste Control Specialists LLC, $270M Cash, $20M Preferred A Stocks & Assumption Of $77M WCS Debt

EnergySolutions, Inc. today announced it has signed a definitive agreement to acquire Waste Control Specialists LLC (WCS), a wholly owned subsidiary of Valhi, Inc. VHI and operator of a waste disposal facility located in Andrews County, Texas. At closing, EnergySolutions will pay $270 million in cash, $20 million face amount in Series A Preferred Stock and will assume approximately $77 million of WCS debt. Additionally, EnergySolutions will assume all financial assurance obligations related to the WCS business. Completion of the sale is subject to certain customary closing conditions outlined in the transaction agreement. "Combining our capabilities will bring improved operational efficiencies and allow us to deliver a safe and seamless supply chain that better serves the needs of commercial and government customers," said David Lockwood President and Chief Executive Officer of EnergySolutions. "In addition to the ongoing utilization of all the acquired assets, we intend to continue to seek expansion opportunities in the nuclear services area. EnergySolutions and WCS will continue to operate as independent companies until completion of the sale.