Cramo demerger completed
By Thomas Allen03 July 2019
The partial demerger of Cramo’s modular space business - announced towards the end of 2018 - was completed on 30 June, with trading in Adapteo shares beginning on 1 July.
Following the demerger, Adapteo and its subsidiaries now form a new independent group of companies, separate from Cramo. In line with the demerger plan, all the assets, debts and liabilities belonging to Cramo’s modular space business have been transferred, without a liquidation procedure, to Adapteo.
Cramo’s equipment rental business, which mainly comprises construction machinery and equipment rentals, as well as rental-related services, remains in Cramo.
Upon completion of the demerger, Cramo shareholders received one Adapteo share for each Cramo share that they held. The total number of Adapteo shares issued as a result is 44,682,697.