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-APR reallocates Libya assets as government fails to ratify contract

Reuters - UK Focus

(Refiles to remove HOLD from the headline and add reporting credits)

Jan 26 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) said it would move its power-producing assets currently located in Libya to other places, as the government has failed to ratify its contract even two months after the company first switched off power generation.

APR, which rents out turbines and generators to overcome power shortages, suspended electricity generation in Libya in early November pending completion of paperwork on a contract instrumental in it turning a profit in 2013.

The company on Monday said the assets would be reassigned to other places immediately, but did not specify a location. (Reporting by Esha Vaish, editing by Louise Heavens)