Shurgard Buys Lok’nStore to Expand UK Footprint Outside London
A Lok'nStore self storage facility, Ipswich, UK.
Source: Geography Photos/Getty Images
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Shurgard Self Storage Ltd. agreed to buy Lok’nStore Group Plc for £378 million ($475 million) to expand its UK footprint outside of the capital.
The Windhof, Luxembourg-based company will pay 1,110 pence in cash for each Lok’nStore share, 16% more than yesterday’s close, according to a statement.