Big Yellow Group completes Armadillo acquisition with placing funds

Thu, 01st Jul 2021 13:58

(Alliance News) - Big Yellow Group PLC on Thursday said it has completed its acquisition of Armadillo with funds from a recent placing.

The Surrey, England-based self-storage provider revealed plans to acquire the remaining 80% stake in Armadillo, last Wednesday.

The purchase was funded by a placing worth GBP100 million from of 7.8 million shares, priced at 1,290 pence each, completed last Thursday.

Big Yellow now owns 100% of Armadillo, which includes both Armadillo Storage Holding Company Ltd and Armadillo Storage Holding Company 2 Ltd.

Big Yellow Group shares were trading down 0.4% at 1,302.00 pence each in London on Thursday afternoon.

By Scarlett Butler; scarlettbutler@alliancenews.com

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