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Spark Sells Connexa Stake to Canadian Pension Fund

Dec 12, 2024

Spark New Zealand Limited (NZX: SPK) has sold its 17% stake in mobile tower company Connexa to Caisse de dépôt et placement du Québec (CDPQ), a Canadian pension fund. CDPQ will also acquire 33% of the stake held by the Ontario Teachers' Pension Plan, resulting in both entities owning 50% of Connexa. Spark anticipates recognizing a $70 million gain from the sale in its earnings before interest, taxes, depreciation, amortization, and investments (EBITDA).

 

 

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