ContourGlobal plc is a British power generation business. It was listed on the London Stock Exchange until it was acquired by KKR in December 2022.
 | |
| Company type | Public limited company |
|---|---|
| LSE: GLO | |
| Industry | Power generation |
| Founded | 2005 |
| Headquarters | London, England |
Key people | Joseph Brandt, President and CEO |
| Revenue |  $2,151.9 million (2021)[1] |
| $370.1 million (2021)[1] | |
| $79.7 million (2021)[1] | |
| Parent | KKR |
| Website | www.contourglobal.com/ |
History edit
The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005.[2] In June 2015 it purchased the Vorotan Cascade in Armenia for US$180 million.[3] ContourGlobal was the subject of an initial public offering which raised net proceeds of £281 million in November 2017.[4] It then agreed to acquire Acciona's solar power plants for US$1.19 billion in February 2018.[5]
In May 2022, the board accepted an offer from KKR which valued the company at £1.75 billion.[6] It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.[7]
Operations edit
The company generates circa 59% of its power from fossil fuel sources such as natural gas and coal and circa 41% from renewable sources such as wind, solar and water.[4] It owns and operates 69 power generation plants across 19 countries.[4]
References edit
- ^ a b c "Preliminary Results 2021". ContourGlobal. Retrieved 18 March 2022.
- ^ "ContourGlobal Plans $1 Billion Power IPO in London". Bloomberg News. 29 August 2017. Retrieved 3 March 2018.
- ^ "Deal on Vorotan Cascade Was Signed". Lragir. 8 June 2015. Retrieved 3 March 2018.
- ^ a b c "ContourGlobal IPO offers income potential". Investors Chronicle. 13 November 2017. Retrieved 3 March 2018.
- ^ "ContourGlobal buys Acciona's solar power assets in $1.19 billion deal". Reuters. 27 February 2018. Retrieved 3 March 2018.
- ^ "ContourGlobal fizzes higher after agreeing to be taken private". Proactive Investors. 17 May 2022. Retrieved 19 May 2022.
- ^ "Court sanction of scheme of arrangement". Investegate. 16 December 2022. Retrieved 17 December 2022.