Algeco's acquisition agreement with Balat lapses

June 3rd 2020

LONDON (3 June 2020) – Algeco Group, the leading modular space leasing business in Europe and Asia Pacific, announces that the acquisition agreement for Alquibalat, S.L. in Spain has lapsed.

The transaction was conditional upon the approval of the CNMC, the Spanish competition authority, having been obtained on or before 2 June 2020. The approval of the CNMC has not been obtained and so, in accordance with the terms of the acquisition agreement, the transaction has now automatically lapsed.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
07841 563541

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