Algeco's Acquisition Agreement With Balat Lapses
LONDON (3 June 2020) – Algeco Group, the leading modular space leasing business in Europe and Asia Pacific, announces that the acquisition agreement for Alquibalat, S.L. in Spain has lapsed.
The transaction was conditional upon the approval of the CNMC, the Spanish competition authority, having been obtained on or before 2 June 2020. The approval of the CNMC has not been obtained and so, in accordance with the terms of the acquisition agreement, the transaction has now automatically lapsed.
Algeco is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Headquartered in London, Algeco has operations in 23 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting and BUKO Bouw & Winkels in The Netherlands, Malthus Uniteam in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
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