Greenspark Power Holdings has commenced purchasing Energy Developments (ASX:ENE) shares on-market, as part of Greenspark’s takeover proceedings.
Greenspark, which is acting as a buyer for Private Equity Partners, today began purchasing Energy Developments shares for $2.75 on-market.
On Friday, Greenspark amended its off-market offer, declaring it unconditional.
Greenspark now has a 48.6% stake in EDL. The company’s offer will close on January 22, and will not be extended unless the 50.1% ownership threshold is passed, or the Energy Developments board publicly endorses the offer.