UK power firm accepts £2.3bn private-equity takeover

LONDON: Aggreko, a British supplier of power generators hit hard by the Covid crisis cancelling events, announced Friday that it has accepted a £2.3 billion takeover bid from two private equity firms.

Aggreko’s management has recommended the bid, worth the equivalent of $3.2 billion or 2.7 billion euros, from I Squared Capital and TDR Capital, it said in a statement.

“The Aggreko board believes that the offer ... represents an attractive price in cash that fairly recognises Aggreko’s future prospects,” chairman Ken Hanna added.—AFP