Ramirent Plc Stock Exchange Release July 1, 2019 at 15:00 EET
Ramirent Plc (”Ramirent”) has today completed the acquisition of all the shares in Stavdal AB (“Stavdal”) as originally announced on April 8, 2019. The acquisition was approved by the Swedish Competition Authority on June 19, 2019.
Ramirent has paid approximately EUR 86 million as a cash consideration and issued 5,848,341 new Ramirent shares as a directed share issue to the former shareholders of Stavdal. The directed share issue is based on an authorization given by the Annual General Meeting held on March 17, 2016. Additionally, Stavdal’s underlying bank financing of approximately EUR 40 million will be consolidated to Ramirent Group.
The new Ramirent shares have today been registered with the Finnish Trade Register. The shares represent approximately 5.1 percent of all the shares in Ramirent following their registration with the Finnish Trade Register. The new shares carry equal rights with the existing shares of Ramirent. Ramirent has applied for the new shares to be admitted to trading on the official list of Nasdaq Helsinki Ltd. Following the registration of the new shares, the total number of shares and votes in Ramirent is 114,545,669. The number of treasury shares stands at 933,452.
The acquisition, completed today, includes Stavdal’s modern fleet as well as customer centers in 13 locations in Sweden and in Oslo area in Norway. Stavdal’s 280 rental professionals have now joined Ramirent. The acquisition contributes to financial figures of Ramirent’s Swedish and Norwegian segments starting from Q3 2019.
Guidance for 2019 unchanged
Ramirent's guidance for 2019 as well as its long-term financial targets remain unchanged.
For further information, please contact:
Jukka Havia, EVP and Chief Financial Officer, Ramirent Plc, tel. +358 50 355 3757.
Ramirent is a leading service company offering equipment rental for construction and other industries. Our mission is to help our customers gear up on safety and efficiency by delivering great equipment and smooth service with a smile. We have around 2,900 co-workers at 294 customer centers across 9 countries in northern and eastern Europe. In 2018, Ramirent Group net sales reached a total of EUR 712 million. Ramirent is listed on the Nasdaq Helsinki (RAMI). In Sweden Ramirent has about 800 employees and 75 Customer Centers. Ramirent - Gear Up. Equipment rental at your service
Stavdal is one of the leading general equipment rental companies in Sweden. The company operates modern fleet including lifts, construction machines, construction equipment and modules. The company also offers related services and training. In 2018, Stavdal had revenue of SEK 819 million and approx. 280 employees. Read more at www.stavdal.se
Distribution: Nasdaq Helsinki, the main media, www.ramirent.com