Atlas Copco plans an equity offering
28 jun 1999
Stockholm, June 28, 1999 - In connection with today’s announcement of a merger agreement between Atlas Copco and Rental Service Corporation and a public tender offer for all outstanding shares of Rental Service, Atlas Copco also announced plans for an equity offering.
After the completion of the merger the Board of Atlas Copco AB will propose an equity offering of up to USD 500 million. The additional equity will enhance the Group’s financial flexibility and support its continous growth. Atlas Copco is an international group of industrial companies with its head office in Stockholm, Sweden. In 1998 the Group had revenues of 4.2 BUSD, with 97 percent of revenues outside Sweden, and over 23.000 employees. Atlas Copco companies develop, manufacture, and market electric and pneumatic tools, compressors, construction and mining equipment, assembly systems, motion control products and provides related service and equipment rental. Additional information about Atlas Copco is available at the Group’s web site, www.atlascopco.com, which provides access to current news about the Company. For further information, please contact: Lennart Johansson, Senior Vice President, Controlling, M&A Director Phone +46 8 743 8570, mobile +46 70 588 8570, [email protected] Hans Ola Meyer, Senior Vice President, Group Treasurer, (analysts) Phone +46 8 743 8292, mobile +46 70 588 8292, [email protected] Annika Berglund, Vice President, Corporate Communications, (media) phone +46 8 743 8070, mobile +46 70 322 8070, [email protected]