ASSET: IFT: Infratil announces sale of Energy Developments

11 Jan 2010 1:11 pm

IFT 11/01/2010 ASSET

REL: 1311 HRS Infratil Limited

ASSET: IFT: Infratil announces sale of Energy Developments

Infratil today announced that it has sold its 32.47% (50,861,175 shares) investment in ENE at a price of A$2.75 per share into the takeover offer by Greenspark Power Holding Ltd which went unconditional on Friday 8th January. The sale has yielded cash proceeds of A$139.9 million.

Marko Bogoievski, Infratil's CEO, said the sale of the Energy Development shares was consistent with recent capital management initiatives and strengthens 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. In the period since 31 March 2009 Infratil has divested in excess of $391 million of non-core assets and raised over $98 million of new capital.

As a result of the sale, Infratil said that it would record a gain on sale of approximately $94 million in the financial statements for the year ended 31 March 2010. End CA:00190054 For:IFT Type:ASSET Time:2010-01-11:13:11:19

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