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.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.