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Infratil flags interest in approach to Energy Developments, offers option

Friday 5th June 2009

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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



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