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Envestra directors recommends cash offer of A$1.32 per share from Cheung Kong Group Consortium


Thursday, 29 May 2014 08:00pm EDT 

Envestra Ltd:Enters bid implementation agreement with consortium comprising Cheung Kong (Holdings) Ltd, Cheung Kong Infrastructure Holdings Ltd and Power assets Holdings Ltd (together the Consortium) and CK ENV Investments Pty Ltd, an entity jointly owned by the Consortium (Consortium Bidco).Consortium Bidco has agreed to make a conditional off-market takeover bid to acquire all of Envestra's shares for cash consideration os A$1.32 per Envestra share.Goldman Sachs is financial adviser.Johnson Winter & Slattery is legal adviser to Envestra.