PEP lifts Energy Developments bid
Leading Australian buyout player Pacific Equity Partners has reportedly increased its bid for Queensland-headquartered Energy Developments Ltd, which has been seeking a buyer since July 2008, to some A$431 million ($395 million), seeking to acquire the company’s power station assets in Australia, Europe, and the US.
Energy Developments, which focuses on landfill and coalmine gas generation, as well as remote-area power facilities, previously rejected what it described as an inadequate bid from PEP worth around 95%...
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