Spark buys stake in DUET

Spark Infrastructure has announced its ownership of derivative contracts that entitle the electricity distributor to a minimum 14.1% stake in Duet Group. The purchase will be funded by a $200m equity raising that is only open to institutional shareholders and is set to close on 21 May 14. Duet owns 80% of Western Australia’s main gas transmission pipeline, the Dampier to Bunbury pipeline (DBP), as well as Multinet, a Victorian gas distributor. Duet also owns 66% of United Energy Distribution, a Victorian electricity distributor. United is a competitor of Spark but firm regulation is likely to keep the competition watchdog at...

Spark Infrastructure has announced its ownership of derivative contracts that entitle the electricity distributor to a minimum 14.1% stake in Duet Group. The purchase will be funded by a $200m equity raising that is only open to institutional shareholders and is set to close on 21 May 14.

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