Williams Scotsman acquired by Ristretto

By Lisa Kerner

Charlotte, N.C., Oct. 31 - The merger of Williams Scotsman International, Inc. with Ristretto Acquisition Corp. was completed Wednesday with Williams Scotsman remaining the surviving corporation.

Williams Scotsman shareholders will receive $28.25 per share, according to a company news release.

It was previously reported that on July 19 Williams Scotsman agreed to be acquired by Ristretto in an all-cash transaction valued at $2.2 billion, which includes the refinancing of outstanding debt. The company's headquarters, located in Baltimore, is slated to become the global headquarters for Algeco.

Williams Scotsman's wholly owned subsidiary, Williams Scotsman, Inc., also announced it completed redemption of all of its outstanding 8½% senior notes due 2015; the total principal amount of $450 million was redeemed for $518 million in cash.

Williams Scotsman is a North American provider of mobile and modular space solutions with a fleet of more than 118,000 leased modular space and storage units.

Ristretto Acquisition is a subsidiary of Ristretto Group S.a.r.l., the parent company of the privately held French company Algeco. The company operates rental accommodation and storage facilities, with a total of 175,000 units including portable restrooms.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.