13.09.2007

Cape makes A$233 million offer

Oil services company Cape said today that it has offered to buy Australian scaffolding and hoist firm PCH Group for A$233 million ($194.8 million).

Cape said the cash deal- if it proceeded - for A$1.30 per PCH share, would be funded through its existing bank facilities.

The announcement comes just two days after Cape agreed to buy another Australian scaffolding equipment company, Concept Hire for A$128.7 million.