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spark infrastructure group (SKI) Snapshot

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01/13/15 - A$2.19
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02/4/14 - A$1.62
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spark infrastructure group (SKI) Details

Spark Infrastructure Group, invests in regulated electricity distribution businesses primarily in Australia. The company operates through two segments, Victoria Power Networks and SA Power Networks. It owns interests in the SA Power Networks that operates and maintains an electricity distribution network serving approximately 836,000 customers in South Australia. The company also has interests in CitiPower, which owns and operates a distribution network that supplies electricity to approximately 320,000 customers in Melbourne’s CBD and inner suburbs; and Powercor Australia, which owns and operates an electricity distribution network that serves approximately 745,000 customers in central and western Victoria, as well as the Western suburbs of Melbourne. Spark Infrastructure Group is based in Sydney, Australia.

spark infrastructure group (SKI) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: A$955.0K
Chief Financial Officer
Total Annual Compensation: A$502.9K
General Counsel and Company Secretary
Total Annual Compensation: A$354.9K
Compensation as of Fiscal Year 2013.

spark infrastructure group (SKI) Key Developments

State Grid Corporation of China Reportedly Retains HSBC For Acquisition Of Electricity Assets

State Grid Corporation of China has retained HSBC to advise it on the acquisition of up to $50 billion worth of electricity assets earmarked for sale by the Queensland and NSW governments. State Grid will rival three consortiums and other possible buyers, likely to include Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038), advised by Credit Suisse and potentially Citigroup Inc. (NYSE:C). So far, consortiums in place are Australian Super, Canada Pension Plan Investment Board and Borealis Capital Corporation advised by Morgan Stanley and Goldman Sachs, and IFM Investors Pty Ltd and QIC limited, which may be representing interests of the Future Fund and could be taking advice from Barclays. Caisse de dépôt et placement du Québec is said to have joined the Hastings Funds Management Limited’s consortium with Spark Infrastructure Group (ASX:SKI), advised by JP-Morgan and Royal Bank of -Canada. Universities Superannuation Scheme Limited and Abu Dhabi Investment Authority were in talks to join Hastings before Christmas and could be still searching for partnership opportunities. Singapore Power Ltd is still considering whether to enter the bidding. A decision on whether the Queensland government sells its electricity assets will depend on the outcome of the January 31, 2015 election. Macquarie and Bank of America Merrill Lynch are handling the Queensland sales. The sale will begin with Powerlink Transmission Services Pty Ltd. valued between $10 billion and $12 billion, followed by Energex Limited and Ergon Energy Queensland Pty Ltd. with all assets collectively worth about $30 billion. The government will also sell a lease for 100% of its electricity transmission network TransGrid, for between $7 billion and $8 billion. This will be followed by sale of 50% stakes in Ausgrid and Endeavour Energy. About $20 billion collectively is expected from the sell down.

Spark Infrastructure Announces Board Appointments

Spark Infrastructure announced the appointment of Ms. Christine McLoughlin and Ms. Karen Penrose to its Board from October 1, 2014. Christine McLoughlin is an experienced company director with expertise across a range of sectors including financial services, mining and resources, and telecommunications. Christine is the inaugural Chairman of The Australian Payments Council and her current directorships include Whitehaven Coal Limited and nib Holdings Ltd. Christine is also a member of Minter Ellison's Advisory Council. Karen Penrose has a background and breadth of experience in business, finance and investment banking, in both the banking and corporate sectors. Karen is a non-executive Director with CFS Retail Property Trust Group, AWE Limited and Silver Chef Limited. She is also a Director of Landcom (operating as UrbanGrowth NSW) and Marshall Investments Pty Limited.

Spark Infrastructure In Talks For Potential Bidders For NSW Assets

Spark Infrastructure Group (ASX:SKI) has started talks with potential bid partners for a stake in NSW's $20 billion electricity distribution network. It's understood that Spark is seeking a North American pension fund or Australian superannuation fund to bankroll its bid. Spark is believed to be looking for at least two bid partners, which would ensure it could own 49% stake in a bidding consortia without ceding control to another party. The assets to be sold are split into Ausgrid, Endeavour Energy Australia, TransGrid. Deutsche Bank and UBS have to put forward a sale strategy to NSW Premier Mike Baird by the end of 2014. Early indications are that TransGrid and Endeavour could be sold as individual entities, while Ausgrid could be split into two or three parts. It is also possible that NSW floats at least one of the assets


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Valuation SKI Industry Range
Price/Earnings 16.7x
Price/Sales 7.2x
Price/Book 1.4x
Price/Cash Flow 18.3x
TEV/Sales 4.8x

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