Crown Capital may buy civil, rental assets of troubled Petrowest

Calgary-based infrastructure specialist Petrowest Corp (TSX: PRW) said it has consented to the appointment of a receiver after lenders demanded immediate repayment of all amounts owing under the company's credit facilities. Canadian specialty finance firm Crown Capital Partners, which has $25 million of loans outstanding to Petrowest, said it will work with the receiver to maximize proceeds for all stakeholders. Crown also announced it is formalizing an offer to acquire the assets of Petrowest's civil and rental divisions, which it believes should be maintained as "going concerns."

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