logo
Share SHARE
FONT-SIZE Plus   Neg

Algeco Scotsman To Buy Target Logistics Management

Algeco Scotsman said Wednesday that it has signed an agreement to acquire Target Logistics Management LLC, a provider of full-service remote workforce accommodation solutions in the United States.

The total consideration for the deal is up to about $625 million based on Target's financial projections. Of the total consideration, $275 million is payable at closing and about $350 million is deferred and linked to Target's expected strong performance over multiple years. The total closing consideration of $275 million is comprised of about $86 million in cash, $86 million of Algeco stock and $103 million of assumed indebtedness and working capital.

The cash consideration will be funded by existing facilities available to Algeco and the deferred consideration is payable principally in Algeco stock.

The deal is expected to be completed by the end of February 2013.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Carnival said it has obtained U.S. approval to begin cruises to Cuba. The announcement by the cruise operator follows the recent restoration of diplomatic relations between the U.S. and Cuba. GoPro has just launched a facile camera, its smallest and lightest yet, as the action-camera sports maker seeks to further entice its adventure-seeking consumers. Oreo, the popular two chocolate wafers with a sweet crème filling in between has now got a new look. With about half the width of the regular Oreo, the new Oreo Thins will be thinner and slightly reduced in calorie. It will be available from July 13 with no change in its cookie taste and price tag.
comments powered by Disqus
Follow RTT