AGL buys assets and reorganizes
Published: Oct. 31, 2005 at 11:14 AM
SYDNEY, Oct. 31 (UPI) -- Australian Gas Light Co. is paying $1.1 billion for the hydro- and water-energy operations of New Zealand's Meridian Energy.
Most of Southern Hydro, whose operating assets include 646 megawatts of hydropower drawn from nine catchment areas, will be put into AGL's energy business, the Australian Financial Review reported Monday.
Besides buying the Southern Hydro unit of Meridian Energy, AGL plans to split its retail and merchant energy businesses from its transmission business and list both separately on the stock exchange.
Most of Southern Hydro, whose operating assets include 646 megawatts of hydropower drawn from nine catchment areas, will be put into AGL's energy business, the Australian Financial Review reported Monday.
Besides buying the Southern Hydro unit of Meridian Energy, AGL plans to split its retail and merchant energy businesses from its transmission business and list both separately on the stock exchange.
© 2005 United Press International. All Rights Reserved.
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This material may not be reproduced, redistributed, or manipulated in any form.
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