August 21, 2017 / 8:51 PM / a year ago

BRIEF-Algeco Scotsman enters into definitive agreement to sell Williams Scotsman for an aggregate purchase price of $1,100 million‍​

Aug 21 (Reuters) - Double Eagle Acquisition Corp:

* Algeco Scotsman enters into definitive agreement to sell williams scotsman for an aggregate purchase price of $1,100 million‍​

* ‍algeco Scotsman​ says deal to be effected through sale of all of shares of Williams Scotsman International currently held by Algeco Group to Hold Co

* Algeco Scotsman - ‍upon closing of transaction, board of directors of new DEAC is expected to consist of 6 directors

* ‍Algeco Scotsman​ - $1,021 million to be paid in cash to the algeco group/used to repay indebtedness of the Algeco Group

* Algeco Scotsman -on Aug 21, in connection with deal, co’s unit, other parties thereto entered amendment to abl credit agreement​​

* ‍Algeco Scotsman​ - remaining $79 million to be paid in 10pct equity interest in HoldCo as per deal

* Algeco Scotsman - of new DEAC board, two members will be designated by founders of DEAC, 4 by Algeco Group’s controlling shareholder, TDR Capital LLP​

* ‍algeco Scotsman​ - DEAC’s board of directors approved terms of stock purchase agreement and recommended that its stockholders approve the transaction

* ‍algeco Scotsman-amendment to credit agreement to reduce commitments under U.S. revolving facility provided pursuant to ABL credit agreement to $150 million ​

* Algeco Scotsman - ‍williams Scotsman will continue to be led by Brad Soultz, CEO & president, with Gerry Holthaus returning as chairman​

* ‍Algeco Scotsman-amendment to ABL credit agreement to also reduce revolving commitments under Australia/New Zealand revolving facility to $120 million​​

* ‍Algeco Scotsman - agreement with Double Eagle Acquisition Corp to sell Algeco Group’s North American modular space and portable storage operations Source text for Eikon: Further company coverage:

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