No single foreign investor will be able to buy more than half of the 50.4 per cent stake on offer in NSW's third and last poles and wires asset, Endeavour Energy, sources told Street Talk.
It is understood that the foreign investment conditions set for the circa $4 billion Endeavour stake also involve a minimum Australian equity requirement which means any overseas suitor will need to link up with a local partner.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Joyce Moullakis wrote on banking and finance, specialising in Investment Banking, Private Equity, Financial Services. Connect with Joyce on Twitter. Email Joyce at jmoullakis@afr.com.au
