Friday, Savanna Energy Services Corp., (SVY.TO) announced the closing of the acquisition of the assets of a privately-held oilfield services rental company for aggregate cash proceeds of approximately $20 million. The company said that all of the key management principals have agreed to remain with Savanna in their present roles, and all have executed independent employment and non-competition agreements. In addition, $2.5 million of the proceeds would be utilized by key management to acquire shares of Savanna in the open market over the next 90 days.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.