Infratil flags interest in approach to Energy Developments, offers option

Infratil indicated it may support a takeover over for its 32% owned Energy Developments in Australia by offering the bidding group an option over 19.9% of the company.

Brisbane-based Energy Developments received an unsolicited and incomplete proposal to acquire 100% of its shares from a group of private equity investors. Its shares jumped 12% to $1.63 on the ASX, valuing the company at A$224 million and Infratil’s holding at about A$72 million.

Infratil stock climbed 4.3% to $1.70 on the NZX. A committee of the Australian company’s board, excluding Infratil directors, will assess the proposal.

Energy Developments focuses on renewable energy sources. 

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Infratil sells Manston Airport for 350,000 British pounds to Stagecoach co-founder
Scottish government plans to nationalise Infratil's unprofitable Glasgow Prestwick Airport
Infratil stock undervalued after Z selldown, Wellington Airport worth more, broker says
Infratil plans $65 mln share buy-back to plump up price, flags more dividend growth
Infratil's plans for Z proceeds - debt reduction, buyback, Aussie windfarms
Z listing ups value of Infratil’s remaining stake but reduces earnings
Infratil, NZ Super Fund stand to triple their money on Z Energy investment
Infratil seeks fourth annual increase in fee pool for board
Wellington Airport keeps 2013 returns within regulator's guidelines, engages with carriers over fees
Infratil FY net profit drops to $3.4 mln on UK writedowns, charges