Aggreko PLC Acquisition of KBT in Indonesia (9735H)
June 14 2017 - 1:00AM
UK Regulatory
TIDMAGK
RNS Number : 9735H
Aggreko PLC
14 June 2017
14 June 2017
Aggreko plc
AGGREKO ACQUIRES KBT
Aggreko plc is pleased to announce that it has acquired KBT
(Kerta Bumni Teknindo), an Indonesia-based power rental company for
a maximum consideration of $32.8 million equating to 1 times net
asset value.
KBT has around 200MW of diesel and gas contracts on hire with
the local utility company PLN, which adds to the 140MW that Aggreko
has contracted. KBT was established in 1993 and has successfully
been serving the power rental market since 2010.
There is an escrow in place allowing for clawback should any of
the acquired contracts terminate before a certain period of
time.
Chris Weston, Chief Executive, said: "Aggreko has had a long and
productive relationship with PLN and Indonesia, and this
acquisition will deepen this further. PLN has been clear in its
ambition to improve the power situation in East Indonesia in
particular, and we will be well placed to support this with our
extended presence and competitiveness."
Enquiries
Investors & Analysts
Tom Hull, Aggreko plc +44 7342 056 727
Media
Sam Cartwright, Bell Pottinger +44 20 3772 2500
Notes to Editors
Around the world, people, businesses and countries are striving
for a better future. A future that needs power and the right
conditions to succeed.
That's why Aggreko works around the clock, making sure our
customers get the electricity, heating and cooling they need,
whenever they need it - all powered by a trademarked passion,
unrivalled international experience and local knowledge. From urban
development to unique commercial projects and even humanitarian
emergencies, we bring our expertise and equipment to any location,
from the world's busiest cities to some of the most remote places
on earth.
Every project is different, so Aggreko listen first and design a
system around our customers, delivering our service and support
anywhere, to any scale. Transforming the lives and livelihoods of
individuals, organisations and communities across the globe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 14, 2017 02:00 ET (06:00 GMT)
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