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    Home»Deals»Aggreko Holders Poised to Approve $3 Billion Private Equity Takeover
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    Aggreko Holders Poised to Approve $3 Billion Private Equity Takeover

    April 26, 20211 Min Read
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    TDR Capital and I Squared Capital won enough shareholder support to proceed with their takeover of Aggreko Plc, one of the world’s biggest suppliers of portable power generators.

    The deal was approved by the requisite majority of shareholders, Aggreko said in a statement Monday. Bloomberg News reported earlier that a preliminary tally of investor votes indicated the deal would be approved.

    TDR and I Squared last month offered 880 pence cash per share for Aggreko, valuing the business at about 2.3 billion pounds ($3 billion). Shares of Aggreko rose 1.2% to 863 pence as of 3:50 p.m. London time.

    Aggreko offers rentals of power, heating and cooling equipment to clients in the energy, refining, construction and events industries. It has provided generators to the Glastonbury Festival, Britain’s marquee music event, as well as the 2018 Winter Olympic Games in South Korea.

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    Source: Bloomberg

    By Aaron Kirchfeld and Dinesh Nair

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

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