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US UTILITY AQUILA MAY SELL AUS, NZ ENERGY ASSETS: REPORT.
AsiaPulse News, May, 2002
MELBOURNE, May 9 Asia Pulse - Kansas City based utility Aquila Inc may sell its $A1.9 billion ($US1.02 billion) Australian and New Zealand energy assets, raising the possibility of AMP may boost its exposure to the sector by launching an energy fund.
Without citing sources, the Australian Financial Review newspaper, said Aquila has appointed Salomon Smith Barney to advise on options for a possible sale of key regional investments.
This could include, Aquila's 66 per cent stake in power distributor United Energy (ASX:UEL), as well as the Multinet gas business in Victoria.
AMP already has a stake in both of these businesses and has pre-emptive rights over these assets.
The departure of Aquila, formally called Utilicorp, would add to the...
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