APR Energy Inks $314M Deal For GE Power Rental Business

Law360, New York (October 23, 2013, 1:24 PM EDT) -- APR Energy PLC on Wednesday said it has agreed to buy General Electric Co.'s power rental business for $314 million in a cash-and-stock deal that will give GE a 16.5 percent stake in the company.

Jacksonville, Fla.-headquartered APR, listed on the London Stock Exchange, said the acquisition will create the world's leading fleet of fast-track mobile gas turbines, strengthening and diversifying its temporary power business and creating a long-term strategic alliance with GE.

"The transaction diversifies our revenue base, gives us exposure to new geographies and...
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