10 August date for Aggreko takeover
By Murray Pollok08 July 2021
Private equity firm TDR Capital said today it expected the acquisition of Aggreko to be completed on 10 August, with the power company’s share listing cancelled on 11 August.
TDR and I Squared Capital made the joint offer to acquire Aggreko for £2.3 billion on 5 March. Aggreko has been listed on the London Stock Exchange since February 1997.
London-based TDR is the long-time owner of Modulaire (parent of Algeco) - which TDR is now selling - and I Squared Capital is based in Miami, Florida, and invests in infrastructure markets worldwide.
Under the scheme of arrangement, there will be a court hearing on 6 August, with 9 August being the last day that Aggreko’s shares can traded. The acquisition scheme will become effective on 10 August.
Aggreko is the largest power and temperature control rental company in the world, with revenues last year of £1.36 billion. It will provide power for this year’s Tokyo Olympics.