市场见解

What’s happened to Spark Infrastructure (ASX:SKI) shares?

The ASX will wave goodbye to the electricity-focused investment company tonight
The post What’s happened to Spark Infrastructure (ASX:SKI) shares? appeared first on The Motley Fool Australia. –

At the end of today’s session, Spark Infrastructure Group (ASX: SKI) shares will be no more. Or, at least, they will no longer exist on the ASX. That’s because Pika Bidco has officially taken over the company.

The final Spark Infrastructure share price will be $2.87, where it has been frozen for weeks.

Let’s look back at how the electricity-focused investment company found itself in its current position.

Spark Infrastructure shares to delist tonight

Spark Infrastructure’s shares haven’t traded since 29 November after they were suspended ahead of the takeover.

Spark’s acquirer is run by a consortium of investment firms. It’s made up of global investment firm Kohlberg Kravis Roberts & Co L.P. and Canada’s Ontario Teachers’ Pension Plan Board and Public Sector Pension Investment Board.

The acquisition of all Spark shares will see the company’s shareholders receiving around $2.76 per security they owned as of 10 December. They also received a 6.25 cent per share dividend in September.

That brings the value of the takeover to $2.95 per share, giving Spark Infrastructure an enterprise value of $10.1 billion.

The purchasers first put forward their interest in acquiring Spark in July. In October, a scheme booklet was passed around. In November, Spark Infrastructure shareholders voted in favour of the takeover.

Following the ‘yes’ vote, S&P Dow Jones Indices removed the company from the S&P/ASX 200 Index (ASX: XJO). Sandfire Resources Ltd (ASX: SFR) replaced the company on the index.

That brings us to today, when the market will wave goodbye to the energy investment business.

Spark Infrastructure has holdings in many recognisable power companies, including SA Power Networks, TransGrid, Powercor, and CitiPower.

It also operates its own Spark Renewables business, which focuses on wind, solar, hydrogen, and energy storage projects.

Fortunately, the Spark Infrastructure share price had a good run in its final months. It gained 36% over 2021.

The post What’s happened to Spark Infrastructure (ASX:SKI) shares? appeared first on The Motley Fool Australia.

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