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Sunday, February 20, 2011

Carlyle,Macquarie to buy Australia Redflex for $304 mln, (MQG), (RDF)

The Carlyle Group [CYL.UL] and investment bank Macquarie Group Ltd (MQG.AX) have agreed to buy Australia's Redflex Holdings Ltd (RDF.AX) for $304 million, Carlyle said in a statement, pushing Redflex shares up as much as 16.7 percent. Carlyle and Macquarie will pay A$2.70 per share, a 20.5 percent premium to Redlfex's last traded price on Friday, to buy all ordinary shares in Redflex. By 0345 GMT, Redflex shares were trading up 16.7 percent at A$2.66, a shade below the offer price. Headquartered in Australia and predominantly based in the United States, Redflex manufactures and operates highway safety equipment. The company's traffic enforcement products and services include the largest network of digital speed and red-light cameras in the world, Carlyle said in the statement on Monday.