Business Services Industry
AGL raises $214 million to fund Pulse acquisition.
Australasian Business Intelligence, July, 2002
Jul 05, 2002 (The Asian Wall Street Journal
ABIX via COMTEX) -- Pulse Energy is the subject of a purchase agreement, with Australian Gas Light to pay $A880m for the Victorian company. Shareholders in Australian Gas Light agreed on 3 July 2002 to update the company's constitution, which will see a limit on shareholder ownership removed. Royal Dutch/Shell Group, United Energy, Woodside Petroleum and a partnership of AMP and Aquila were shareholders in Pulse Energy. A share placement raised $A380m for Australian Gas Light and that will be used to assist in funding the acquisition of the gas retailer and electricity retailer.
Publication Date: 4 July 2002
PULSE ENERGY PTY LTD: AUSTRALIAN GAS LIGHT COMPANY LIMITED
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