Crestchic's takeover by Aggreko clears another hurdle

(Alliance News) - Crestchic PLC on Monday said the agreed GBP122 million takeover by Aggreko has cleared another hurdle.

One condition of the deal was confirmation that no action will be taken under the UK National Security and Investment Act 2021 which would prevent completion of the takeover.

AIM-listed Crestchic and buyer Aggreko confirmed that the NSIA condition has now been satisfied.

A court hearing to sanction the deal is expected on February 20 with the effective date of the takeover expected to be February 22.

Crestchic floated in 2006 and specialises in hiring and selling specialist power reliability equipment.

By Jeremy Cutler Alliance News reporter

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