01 Mar 2022

Future of Eurasia business

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Aggreko Limited
Albion Acquisitions Limited

Rule 19.6(b) update to stated post-offer intention statement with regard to Aggreko Limited 

Aggreko Limited (“Aggreko” or the “Company”) and its parent company Albion Acquisitions Limited today announce that the board of directors of Aggreko has decided to sell the Company’s Eurasian business, which is mostly in Russia.

Until a sale is possible, the Company will operate that business independently from the rest of Aggreko. At this time, no further capital or resources will be invested in Eurasia and Aggreko will ring-fence the Eurasia business for financial purposes. 

Aggreko has a responsibility for its 500 exceptional employees in the region and will continue to support them until a transaction is complete.  

This course of action differs from certain statements of intent made by Albion Acquisitions Limited pursuant to Rule 2.7(c)(viii) and 24.2(a)(iii) of the City Code on Takeovers and Mergers (the “Takeover Code”) which were set out in its announcement of 5 March 2021 and in the scheme document published in connection with its acquisition of Aggreko on 1 April 2021. This announcement is therefore required under Rule 19.6(b) of the Takeover Code.