14.02.2017

Loxam has control of Lavendon

Loxam has announced that it has received acceptances from Lavendon shareholders representing 59.5 percent of the company’s equity and voting rights.

Of these the company had already purchased 19.2 percent but has now declared its offer fully unconditional – with the acceptances having passed 50 percent - kicking off the official purchase of the remaining shares that have been offered.

Loxam has also said that if it receives 75 percent or more of the shares it will make an application withdraw/de-list the company from the stock exchange in order to re-register it as a private limited company.

If it receives 90 percent or more it will look to make a compulsory purchase of the remaining 10 percent of the equity. So much will depend on what TVH does with its 21 percent holding.