Australia's FleetPartners hits record high after agreeing to SG Fleet's $786 million takeover

By Reuters News

** Shares of FleetPartners FPR.AX rise as much as 7.8% to a record high of A$5.140

** Vehicle leasing company enters binding agreement to be bought by Pacific Equity Partners-backed SG Fleet in a deal valuing it at A$1.13 billion ($786.71 million)

** Co's shareholders will receive A$5.30 per share in cash, representing an 87.3% premium to last close prior to SG Fleet's initial bid on August 3

** Scheme involves a final dividend of up to 14 Australian cents per share and a special dividend of up to 12 AU cents per share

** YTD, stock up 80.6%, including the session's moves

($1 = 1.4364 Australian dollars)

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