Horizon to buy APR Energy around $850mn
LONDON: Horizon Acquisition, a vehicle of Pizza Express and Punch Taverns co-founder Hugh Osmond, is close to buying US temporary power generation services firm APR Energy for around $850 million, according to UK press reports.
Britain's Sunday Express newspaper said the deal would see Horizon own 60 percent of the company, with and APR Chief Executive John Campion and his management team taking 10 percent.
It added that hedge fund manager George Soros and former US Secretary of State Madeleine Albright would own the other 30 percent.
APR is number two to Britain's Aggreko in the global temporary supply market.
Horizon could announce the deal which will see it pay around $350 million in cash and the rest in shares, as soon as this week, the Sunday Telegraph reported. Horizon and APR were unavailable for comment when contacted by Reuters.
COPYRIGHT REUTERS, 2011
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