Aggreko PLC Acquisition of KBT in Indonesia (9735H)

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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                                        [phone] 

Media

   Sam Cartwright, Bell Pottinger                            [phone] 

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

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June 14, 2017 02:00 ET (06:00 GMT)