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UPDATE 1-APR Energy says in buyout talks with biggest shareholder

Published 2015-10-05, 06:12 a/m
© Reuters. UPDATE 1-APR Energy says in buyout talks with biggest shareholder
FFH
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APREN
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(Adds details, background, share price)
Oct 5 (Reuters) - Power plant supplier APR Energy Plc
APREN.L said it was in talks to be bought out by a consortium
that includes its largest shareholder, Fairfax Financial
Holdings Ltd FFH.TO .
Shares of the company, which rents out turbines and
generators to cover electricity shortfalls, rose as much as 66
percent on Monday.
Jacksonville, Florida-based APR Energy had a market value of
about 88 million pounds ($134 million) based on the roughly 94
million shares it had outstanding as of Friday's close.
APR said there was no certainty that any firm offer would be
made by the consortium, which also includes ACON Investments LLC
and Albright Capital Management LLC. ID:nRSE2103Ba
Fairfax, ACON and Albright were not immediately available
for comment outside regular business hours in North America.
APR's stock has fallen about 83 percent in the past year.
The company has been hit by the termination of a key contract in
Libya and increasing political tensions in some of the emerging
markets in which it operates.
($1 = 0.6576 pounds)

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