Boels Gains Title to All Cramo Shares; Cramo Delisted from Nasdaq Helsinki
Boels Topholding B.V. has gained title to all the shares in Cramo Plc in accordance with Chapter 18, Section 6 of the Finnish Companies Act. After the security has been placed and the title to the shares transferred, the minority shareholders of Cramo being parties to the redemption proceedings are entitled to receive only the redemption price and the possible interest.
Upon application by Cramo, Nasdaq Helsinki Ltd. on May 19 decided that Cramo shares will be delisted from the Official List of Nasdaq Helsinki after Boels has gained title to all the shares in Cramo in the redemption proceedings in accordance with the Finnish Companies Act. The quotation of the Cramo shares on Nasdaq Helsinki will cease today in accordance with a separate release published by Nasdaq Helsinki.
Cramo is one of the leading European equipment rental services companies with revenue of €613 million in 2019, serving approximately 150,000 customers through around 300 depots in 11 countries with a full range of machinery, equipment and related services. Cramo enjoys solid market position in all key markets and has a strong focus on the most sophisticated customers primarily within the renovation and new-build construction, industrial and public sector end-markets.
Netherlands-based rental company Boels agreed to acquire Finland-based Cramo in November 2019. The transaction was finalized in February of this year.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.