Infrastructure investor Infratil is looking for new investment opportunities in Australia after selling its share in Australian company Energy Developments Ltd for $A139.9 million ($NZ164.88 million).Greenspark Power Holding Ltd bought the company's 32.47
Infrastructure investor Infratil is looking for new investment opportunities in Australia after selling its share in Australian company Energy Developments Ltd for $A139.9 million ($NZ164.88 million).
Greenspark Power Holding Ltd bought the company’s 32.47% stake (50,861,175 shares) at a price of $A2.75 in a takeover offer that went unconditional on Friday January 8.
Infratil said it would record a $94 million gain on sale in the financial statements for the year ended 31 March 2010.
In an NZX (IFT) announcement today, Infratil chief executive Marko Bogoievski said the sale was consistent with recent capital management initiatives and strengthened Infratil’s capital structure and balance sheet.
“Infratil continues to be a significant investor in the Australian energy sector through its 100% stake in Infratil Energy Australia Limited.
“We intend to increase our investment in the Australian energy sector over time and are actively looking for new investment opportunities.”
Since 31 March 2009 Infratil has divested more than $391 million of non-core assets and raised over $98 million of new capital, she said.
