Spark Infrastructure progresses DUET block trades
Baker & McKenzie acted for JP Morgan as underwriter of the sale of Cheung Kong Infrastructure's (CKI) 6.7 percent stake in Spark Infrastructure for USD252.4 million. This follows acting for Insight Capital Advisers as joint lead manager in connection with the complex unwind and sale of of Spark's 8 percent economic interests in DUET Group for USD305 million.
Lead partner on the transactions, Craig Andrade stated: "there is a lot of competitive block trade activity in the market and we're delighted to have been involved in several recent processes assisting our underwiter clients".
In addition Craig commented: "Our ECM team has been incredibly busy and these transactions follow on the back of advising Macquarie and UBS as joint underwriters of the AUD107 million placement by Mantra Group, APN News & Media on their USD180 million entitlement offer, the joint lead managers on the USD135 million placement by Aconex, the joint lead managers on the A$494m entitlement offer by Qube to fund Qube's participation in the c. AUD9 billion takeover of Asciano, the joint lead managers on the USD405 million entitlement offer by Spark, to fund Spark's participation in the AUD10.258 billion acquisition of TransGrid, advising FAR Limited on its USD60m placement and Sundance Energy on its USD90m placement and SPP.