Aggreko Limited entered into scheme of arrangement to acquire Crestchic Plc (AIM:LOAD) from consortium of sellers for approximately £120 million on December 8, 2022. Aggreko Limited will acquire all ordinary shares at a price of each 401 pence in cash. The transaction is to be affected by scheme of arrangement. Aggreko has obtained irrevocable equity commitment letters from its shareholders, I Squared and TDR to finance the entire consideration payable pursuant to the terms of the Offer. The transaction is to be affected by scheme of arrangement. Directors and Aggreko limited of Crestchic Plc has received irrevocable undertakings from certain of the Crestchic Shareholders. Court Meeting and the General Meeting will be held on or around February 6, 2023. As of February 6, 2023, the transaction has been approved by the shareholders of Crestchic at Court and General Meeting. Scheme will become effective on or around February 15, 2023. As of February 15, 2023, NSIA Condition has now been satisfied. The Court Sanction Hearing, at which the Court will be asked to sanction the Scheme, is expected to take place on February 20, 2023. Subject to the Scheme receiving the sanction of the Court and the delivery of a copy of the Court Order to the Registrar of Companies, the Scheme is expected to become effective on February 22, 2023. As on February 20, 2023, the transaction is sanctioned by court.

John Craven, Angus Grierson and Paul Baines of Smith Square Partners, Shore Capital acted as financial advisor and Travers Smith LLP acted as legal advisor to Crestchic Plc. Hadleigh Beals and Alexander Gill of Centerview Partners UK LLP acted as financial adviser and John Gallon of DLA Piper UK LLP acted as legal advisor to Aggreko.

Aggreko Limited completed the acquisition of Crestchic Plc (AIM:LOAD) from consortium of sellers on February 22, 2023.