Business Services Industry
Sparks fly on escrow expiry.
Australasian Business Intelligence, March, 2007
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Mar 18, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Deutsche Bank has sold down its holding in Australian electricity distribution group, Spark Infrastructure. The investment bank acquired about 95 million shares, or 10.5 per cent of the stock on issue, in December 2005, when Spark, backed by Deutsche and Cheung Kong Infrastructure, raised $A1.145 billion. On 16 March 2007, the day that a voluntary escrow period ended, Deutsche sold 53.8 million shares. The price of $A2 was at the lower end of its indicative range.
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