StockMarketWire.com - Flexible power supplier Aggreko said it would enter talks about the future of a $250m contract for the Tokyo Olympics in light of the event's postponement until next year.

The International Olympic Committee and The Tokyo Organising Committee of the Olympic and Paralympic Games (TOCOG) on Tuesday postponed the games until a date beyond 2020, but not later than summer 2021.

Aggreko said it would now enter detailed discussions with its client, TOCOG, regarding its role in supporting the games to a later timetable.

'While we have a contract that provides a framework for these discussions, the commercial terms and operational impact surrounding the postponement will need to be worked through in detail with TOCOG,' the company said.

The initial contract value was about $200m, though following scope changess it was expected to increase in value to around $250m.

Aggreko said it had received $98m in milestone payments under the contract to date.


At 2:26pm: [LON:AGK] Aggreko PLC share price was +19p at 396.6p



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