Business Services Industry
A year to pass Alinta parcel, or pay the fees.
Australasian Business Intelligence, April, 2006
Byline: Alan Kohler
Apr 26, 2006 (The Sydney Morning Herald - ABIX via COMTEX) -- The assets-swapping deal struck between Alinta and AGL in Australia may bring a stockholder vote on how to best manage infrastructure. As Alinta made the concession not to do anything with the energy infrastructure operation it will purchase from AGL, shareholders have 12 months in which to decide whether they want to see a model with external management and fees, or the one used by AGL in the past, which paid salaries to internal managers. The compromise, brought on by a decision by the Australian Takeovers Panel, also means Alinta CEO Bob Browning has not achieved his goal of creating a major Australian energy retail and supply company.
Publication Date: 27 April...
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