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| location =London, England
| location =London, England
| key_people = Joseph Brandt, President and CEO
| key_people = Joseph Brandt, President and CEO
| industry = Power Generation
| industry = [[Power generation]]
| products =
| products =
| revenue ={{increase}} [[US$|$]]2,151.9&nbsp;million (2021)<ref name=results>{{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}}</ref>
| revenue ={{increase}} [[US$|$]]2,151.9&nbsp;million (2021)<ref name=results>{{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}}</ref>
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| footnotes =
| footnotes =
}}
}}
'''ContourGlobal plc''' is a British power generation business. It was listed on the [[London Stock Exchange]] until it was acquired by [[Kohlberg Kravis Roberts]] in December 2022.
'''ContourGlobal plc''' is a British [[Energy industry|power generation business]]. It was listed on the [[London Stock Exchange]] until it was acquired by [[Kohlberg Kravis Roberts]] in December 2022.


==History==
==History==
The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005.<ref name=bloom>{{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|access-date=3 March 2018}}</ref> In June 2015 it purchased the [[Vorotan Cascade]] in [[Armenia]] for US$180&nbsp;million.<ref>{{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}}</ref> ContourGlobal was the subject of an [[initial public offering]] which raised net proceeds of £281 million in November 2017.<ref name=ic>{{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}}</ref> It then agreed to acquire [[Acciona]]'s solar power plants for US$1.19&nbsp;billion in February 2018.<ref>{{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|publisher=Reuters|date=27 February 2018|access-date=3 March 2018}}</ref>
The company was established by Joseph Brandt with financial support from [[Reservoir Capital Group]] in 2005.<ref name=bloom>{{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|access-date=3 March 2018}}</ref> In June 2015 it purchased the [[Vorotan Cascade]] in [[Armenia]] for US$180&nbsp;million.<ref>{{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}}</ref> ContourGlobal was the subject of an [[initial public offering]] which raised net proceeds of £281 million in November 2017.<ref name=ic>{{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}}</ref> It then agreed to acquire [[Acciona]]'s solar power plants for US$1.19&nbsp;billion in February 2018.<ref>{{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|publisher=Reuters|date=27 February 2018|access-date=3 March 2018}}</ref>


In May 2022, the board accepted an offer from [[Kohlberg Kravis Roberts]] which valued the company at £1.75 billion.<ref>{{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}}</ref> It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.<ref>{{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}}</ref>
In May 2022, the board accepted an offer from [[Kohlberg Kravis Roberts]] which valued the company at £1.75 billion.<ref>{{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}}</ref> It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.<ref>{{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}}</ref>


==Operations==
==Operations==
The company generates circa 59% of its power from traditional sources of fuel such as natural gas and coal and circa 41% from renewable sources such as wind, solar and water.<ref name=ic/> It owns and operates 69 power generation plants across 19 countries.<ref name=ic/>
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.<ref name=ic/> It owns and operates 69 power generation plants across 19 countries.<ref name=ic/>


==References==
==References==

Revision as of 13:33, 24 August 2023

ContourGlobal plc
Company typePublic limited company
LSE: GLO
IndustryPower generation
Founded2005; 19 years ago (2005)
HeadquartersLondon, England
Key people
Joseph Brandt, President and CEO
RevenueIncrease $2,151.9 million (2021)[1]
Increase $370.1 million (2021)[1]
Increase $79.7 million (2021)[1]
Websitewww.contourglobal.com/

ContourGlobal plc is a British power generation business. It was listed on the London Stock Exchange until it was acquired by Kohlberg Kravis Roberts in December 2022.

History

The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005.[2] In June 2015 it purchased the Vorotan Cascade in Armenia for US$180 million.[3] ContourGlobal was the subject of an initial public offering which raised net proceeds of £281 million in November 2017.[4] It then agreed to acquire Acciona's solar power plants for US$1.19 billion in February 2018.[5]

In May 2022, the board accepted an offer from Kohlberg Kravis Roberts which valued the company at £1.75 billion.[6] It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.[7]

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.[4] It owns and operates 69 power generation plants across 19 countries.[4]

References

  1. ^ a b c "Preliminary Results 2021". ContourGlobal. Retrieved 18 March 2022.
  2. ^ "ContourGlobal Plans $1 Billion Power IPO in London". Bloomberg. 29 August 2017. Retrieved 3 March 2018.
  3. ^ "Deal on Vorotan Cascade Was Signed". Lragir. 8 June 2015. Retrieved 3 March 2018.
  4. ^ a b c "ContourGlobal IPO offers income potential". Investors Chronicle. 13 November 2017. Retrieved 3 March 2018.
  5. ^ "ContourGlobal buys Acciona's solar power assets in $1.19 billion deal". Reuters. 27 February 2018. Retrieved 3 March 2018.
  6. ^ "ContourGlobal fizzes higher after agreeing to be taken private". Proactive Investors. 17 May 2022. Retrieved 19 May 2022.
  7. ^ "Court sanction of scheme of arrangement". Investegate. 16 December 2022. Retrieved 17 December 2022.
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