Home Markets KKR leads $3.7bn deal for Australia’s Spark Infrastructure

KKR leads $3.7bn deal for Australia’s Spark Infrastructure


Mergers & Acquisitions updates

A consortium led by US private equity group KKR has struck an US$3.72bn deal to acquire Australian energy investor Spark Infrastructure, as the country’s assets draw strong interest from global funds.

Spark said in a filing to the Australian Securities Exchange on Monday that the approach, which also includes Canada’s Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board, valued the company at A$2.95 (US$2.11) per security to give the deal an equity value of A$5.2bn.

Global investors have shown keen interest in companies in Australia and New Zealand in recent months. Earlier in August, US payments company Square reached a deal to acquire “buy now, pay later” group Afterpay for $29bn, marking the biggest corporate takeover in Australian history. Sydney Airport last month rejected a $17bn…

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