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APR Energy Plc Announces Acquisition Of General Electric Company's Power Rental Business


Wednesday, 23 Oct 2013 02:00am EDT 

APR Energy PLC announced that it has entered into an agreement (Acquisition Agreement) with General Electric Company for the acquisition (Acquisition) by the Company of the power rental business (the GE Business) of GE. To coincide with this announcement, the Company has also brought forward its Q3 IMS covering the period from July 1, 2013 through to October 23, 2013 and released a further RNS covering this trading update. Under the terms of the Acquisition Agreement, GE will receive a total consideration of USD314 million, of which USD250 million will be satisfied by way of the issue to GE of approximately 15.5 million of APR Energy plc ordinary shares (Ordinary Shares) of GBP0.10 (Acquisition Shares) and with the remaining USD64 million being in cash. Application will be made to the Financial Conduct Authority and the London Stock Exchange for the Acquisition Shares to be admitted to the Official List and to trading on the London Stock Exchange. It is expected that dealings will commence on October 28, 2013. 

Company Quote

23.84
-0.54 -2.21%
28 Jan 2015