ContourGlobal
{{Short description|British power generation business}}
{{Use dmy dates|date=May 2025}}
{{EngvarB|date=January 2018}}
{{Infobox company
| name = ContourGlobal plc
| logo = ContourGlobal logo.svg
| type = Public limited company
| traded_as = {{lse|GLO}}
| foundation = {{start date and age|2005}}
| location =London, England
| key_people = Joseph Brandt, President and CEO
| industry = Power generation
| products =
| revenue ={{increase}} $2,151.9 million (2021){{cite web|url=https://otp.tools.investis.com/clients/uk/contourglobal_plc/rns/regulatory-story.aspx?cid=2319&newsid=1561750|title=Preliminary Results 2021|publisher=ContourGlobal |access-date=18 March 2022}}
| operating_income ={{increase}} $370.1 million (2021)
| net_income ={{increase}} $79.7 million (2021)
| num_employees =
| parent = KKR
| subsid =
| homepage =[http://www.contourglobal.com/ www.contourglobal.com/]
| caption =
| footnotes =
}}
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.
History
The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005.{{cite web|url=https://www.bloomberg.com/news/articles/2017-08-29/contourglobal-is-said-to-plan-1-billion-power-ipo-in-london|title=ContourGlobal Plans $1 Billion Power IPO in London|date=29 August 2017|publisher=Bloomberg News|access-date=3 March 2018}} In June 2015 it purchased the Vorotan Cascade in Armenia for US$180 million.{{Cite web| title =Deal on Vorotan Cascade Was Signed| url = http://ipv4.lragir.am/index/eng/0/country/53367/34163| publisher =Lragir| date = 8 June 2015|access-date=3 March 2018}} ContourGlobal was the subject of an initial public offering which raised net proceeds of £281 million in November 2017.{{cite web|url=https://www.investorschronicle.co.uk/shares/2017/11/13/contourglobal-ipo-offers-income-potential/|title=ContourGlobal IPO offers income potential|date=13 November 2017|publisher=Investors Chronicle|access-date=3 March 2018}} It then agreed to acquire Acciona's solar power plants for US$1.19 billion in February 2018.{{cite web|url=https://www.reuters.com/article/us-acciona-divestiture-contourglobal/contourglobal-buys-accionas-solar-power-assets-in-1-19-billion-deal-idUSKCN1GB0TO|title=ContourGlobal buys Acciona's solar power assets in $1.19 billion deal|agency=Reuters|date=27 February 2018|access-date=3 March 2018}}
In May 2022, the board accepted an offer from KKR which valued the company at £1.75 billion.{{cite news|url=https://www.proactiveinvestors.co.uk/companies/news/982440/contourglobal-fizzes-higher-after-agreeing-to-be-taken-private-982440.html |title=ContourGlobal fizzes higher after agreeing to be taken private|date=17 May 2022|newspaper=Proactive Investors|access-date=19 May 2022}} It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.{{cite news|url=https://www.investegate.co.uk/contourglobal-plc--glo-/rns/court-sanction-of-scheme-of-arrangement/202212161244300389K/|title=Court sanction of scheme of arrangement|newspaper=Investegate|date=16 December 2022|accessdate=17 December 2022}}
Operations
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. It owns and operates 69 power generation plants across 19 countries.
References
{{reflist}}
External links
- [http://www.contourglobal.com/ Official site]
{{Authority control}}
Category:Energy companies established in 2005
Category:Companies formerly listed on the London Stock Exchange