Williams Scotsman shareholders OK merger with Algeco parent company

By Lisa Kerner

Charlotte, N.C., Oct. 29 - Williams Scotsman International, Inc. shareholders voted to accept the plan of merger with Algeco's parent company Ristretto Group Sarl at a special meeting on Monday.

The merger is slated to close on Wednesday, a company news release stated.

It was previously reported that on July 19 Williams Scotsman agreed to be acquired by Ristretto in an all-cash transaction valued at $2.2 billion, which includes the refinancing of outstanding debt. Williams Scotsman shareholders will receive $28.25 per share. The company's headquarters, located in Baltimore, will become the global headquarters for Algeco.

Williams Scotsman is a North American provider of mobile and modular space solutions with a fleet of over 118,000 leased modular space and storage units.

Algeco is a privately held French company that operates rental accommodation and storage facilities, with a total of 175,000 units including portable restrooms.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.