Business Services Industry
APA takes operations back from Alinta.
Australasian Business Intelligence, July, 2007
Byline: Vesna Poljak
Jul 01, 2007 (The Australian Financial Review - ABIX via COMTEX) -- APA Group has severed its links with Alinta ahead of the Australian utility's takeover by Singapore Power and Babcock & Brown. APA, which owns gas transmission pipelines, has spent $A210 million buying out its maintenance and operations contracts with Alinta. Management proposes to hire all Alinta staff who work on APA's assets. Alinta management has confirmed that its 35 per cent holding in APA will be distributed during the takeover process. The arrangement ends all law suits between the two groups.
Publication Date: 30 June 2007
APA GROUP - ASX APA
ALINTA LIMITED - ASX AAN
BABCOCK AND BROWN LIMITED - ASX BNB
SINGAPORE POWER LIMITED...
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