NEWS RELEASE
21 July 2008
Invensys disposes of 18% shareholding in CompAir
Invensys announces that it has entered into an agreement to sell its 18% shareholding in CompAir Holdings Ltd to Gardner Denver, Inc. The net cash proceeds are expected to be in the region of £25 million.
The sale is subject to customary regulatory clearances and is expected to complete during the third quarter of our financial year 2008/09. Invensys sold the CompAir business to the Alchemy Plan (a group of funds advised by Alchemy Partners LLP) and CompAir management in 2002 but retained an 18% stake. The proceeds will be added to general corporate funds.
Contact:
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Invensys plc
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Steve Devany
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tel: +44 (0) 20 7821 3758
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Annabel Michie
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tel: +44 (0) 20 7821 2121
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Financial Dynamics
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Andrew Lorenz
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tel: +44 (0) 20 7269 7121
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Richard Mountain
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