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Zenith in PE mining power play

Australian mining power provider Zenith Energy has agreed to a A$150 million (US$98 million) takeover by Pacific Equity Partners.

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The Zenith Energy-built plant at Newmont's Tanami operation in central Australia

The company said it had entered into a scheme implementation deed for the A$1.01 per share cash takeover.

The price represents a 45.3% premium to Zenith's last closing price of 69.5c on Friday.