Spark New Zealand Limited (AU:SPK) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Spark New Zealand has sold its remaining 17% stake in Connexa, a mobile towers business, to global investment group CDPQ for $314 million, resulting in a $70 million profit in EBITDAI. This transaction, which leaves Ontario Teachers’ Pension Plan and CDPQ with equal ownership of Connexa, aligns with Spark’s strategy to strengthen its financial position while maintaining its role as a key customer. The completion of this deal is expected in the third quarter of fiscal year 2025, pending regulatory approvals.
For further insights into AU:SPK stock, check out TipRanks’ Stock Analysis page.
Trending Articles:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue