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Greenspark steps up play for Energy Developments

Greenspark steps up play for Energy Developments

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.

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Tags Energy DevelopmentsGreensparkPrivate Equity PartnersMergers and acquisitions

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