Contour Global (GLO)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

180.80p
   
  • Change Today:
    -2.40p
  • 52 Week High: 222.50
  • 52 Week Low: 163.00
  • Currency: UK Pounds
  • Shares Issued: 670.71m
  • Volume: 78,299
  • Market Cap: £1,212.65m
  • RiskGrade: 142

ContourGlobal acquiring Alpek portfolio in Mexico for $724m

By Josh White

Date: Monday 07 Jan 2019

LONDON (ShareCast) - (Sharecast News) - ContourGlobal has agreed to acquire Alpek's Mexico portfolio of two natural gas-fired combined heat and power (CHP) plants, together with development rights and permits for a third plant, for $724m in cash, it announced on Monday.
The FTSE 250 company said an additional payment at closing estimated at $77m would represents the value added tax assessed for the transaction, and was expected to be refunded in full within 12 months of closing.

It said the two CHP plants would provide electricity and steam under long-term contracts to subsidiaries of Alfa Group - a Mexican industrial conglomerate - and other commercial and industrial customers.

The CHP plants were located on sites adjacent to, and interconnected with, Alpek's industrial facilities, and had a gross installed capacity of 518MW.

ContourGlobal confirmed it would be acquiring the development rights and permits for the third adjacent plant with a planned capacity of 414MW.

"We are delighted to expand our cogeneration Solutions business into Mexico with the acquisition of Alpek's combined heat and power plants," said ContourGlobal president and chief executive officer Joseph Brandt.

"We have developed our Solutions business over the past decade with blue chip clients like Alpek and look forward to powering their growth over the long-term."

Brandt said the accretive transaction fit well into the firm's strategic and financial approach to acquisitions.

"It was highlighted during our initial public offering, and reflects our commitment to pursue high quality growth through operationally led strategic acquisitions and to double adjusted EBITDA without issuing new equity within five years of our listing.

"We are closer to achieving this objective with this acquisition, which we expect to add approximately $110m to our adjusted EBITDA in the first full year of operations."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Contour Global Market Data

Currency UK Pounds
Share Price 180.80p
Change Today -2.40p
% Change -1.31 %
52 Week High 222.50
52 Week Low 163.00
Volume 78,299
Shares Issued 670.71m
Market Cap £1,212.65m
RiskGrade 142

Contour Global Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.72% above the market average59.72% above the market average59.72% above the market average59.72% above the market average59.72% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Price Trend
19.59% below the market average19.59% below the market average19.59% below the market average19.59% below the market average19.59% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average
Income
65.36% above the market average65.36% above the market average65.36% above the market average65.36% above the market average65.36% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
51.39% below the market average51.39% below the market average51.39% below the market average51.39% below the market average51.39% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Contour Global Dividends

  Latest Previous
  Q3 Q2
Ex-Div 12-Dec-19 15-Aug-19
Paid 31-Dec-19 06-Sep-19
Amount 3.69¢ 3.69¢

Trades for 24-Feb-2020

Time Volume / Share Price
17:09 2,262 @ 180.57p
16:35 8,708 @ 180.80p
16:28 27 @ 179.40p
16:28 48 @ 179.40p
16:21 123 @ 179.51p

Contour Global Key Personnel

Chair Craig Huff
CFO Stefan Schellinger

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