LONDON--APR Energy PLC (APR.LN), a temporary power solutions
provider, Wednesday announced that it has entered into an agreement
with General Electric Company (GE) for the acquisition of the GE
Power & Water, the power rental business of GE, for $314
million.
MAIN FACTS:
-Under the terms of the acquisition, GE will receive a total
consideration of $314 million, of which $250 million will be
satisfied by way of the issue of 15.5 million of APR Energy
ordinary shares; Remaining $64 million will be in cash.
-Acquisition is expected to be earnings accretive for the APR
Energy.
-Shares of APR Energy at 0753 GMT up 181 pence, or 19%, at 1163
pence, valuing the company at GBP747 million.
-Write to Tapan Panchal at tapan.panchal@wsj.com
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