Winstar eyes possible sale

Looking: Winstar eyeing options

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Luke Johnson

 03 July 2012 18:20 GMT

Canada's Winstar Resources is looking at strategic options, including an outright sale, as it tries to shake off a rocky first half of the year that has been complicated by difficulties with some of its operations in Tunisia.

The Calgary-based company said it has retained FirstEnergy Capital to help evaluate options for increasing its value. Those options could include a strategic investment, cash infusion, joint venture, merger, sale or other alternatives, Winstar said in a statement.

There is no timetable for completion of the review process, it added.

Winstar's shares have lost 43% of their value on the Toronto Stock Exchange over the past six months, closing at C$2.24 on Friday.

Winstar has been hit by labour unrest and other issues in Tunisia, where many of its operations are focused. In…

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