Invensys disposes of 18% shareholding in CompAir

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.