Australia's Spark Infrastructure Group (Spark Infrastructure Group) announced on Monday that it agreed to accept a takeover offer worth about A $5.2 billion (US $3.7 billion) from a consortium led by US private equity giant KKR.
The consortium offered A $2.95 a share for Sydney-based Spark. The deal was unanimously recommended by Spark's board of directors. The company's shareholders will vote on whether to approve the deal by the end of the year.
Other members of the acquisition consortium include the Ontario Teachers' Pension Plan of Canada and the Canadian Public sector Pension Investment Committee.