Melrose subsidiary Elster offers to repurchase 6¼% notes due 2018

By Toni Weeks

San Diego, Sept. 17 - Melrose plc subsidiary Elster Group SE commenced a change-of-control offer to repurchase its 6¼% senior notes due 2018, according to a company filing with the London Stock Exchange.

The purchase price will be 101 plus accrued interest up to but excluding the purchase date.

The offer will expire at midnight ET on Oct. 18.

Deutsche Bank AG, London Branch is the tender agent and paying agent.

London-based Melrose acquires and develops energy, housing, construction, automotive and scrap processing manufacturing businesses and is also a provider of gas, electricity and water measurement through subsidiary Elster, which it acquired in August.

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