18th Apr 2016 06:54
LONDON (Alliance News) - Industrial and commercial gas metering services provider Energy Assets Group PLC on Monday agreed to be acquired by Alinda Capital Partners in a GBP198.0 million deal.
Alinda, a US infrastructure fund manager, will pay 685.00 pence per share to acquire Energy Assets, a 40% premium to its closing price on Friday and 41% premium to its volume-weighted average closing price for the month prior to Friday.
Energy Assets said its director, advised by investment bank Numis, consider the offer to be fair and reasonable and unanimously recommend shareholders accept the bid.
"Whilst Energy Assets is well placed to continue to deliver on its stated strategy, the recommended acquisition by BidCo announced today will enable shareholders to crystallise an immediate and certain value in cash," said Christopher Masters, chairman of Energy Assets.
By Sam Unsted; [email protected]; @SamUAtAlliance
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