Alinta and AGL reach A$6.5 billion deal

The Australian energy companies divide up their assets in an amicable arrangement.

After months of standoff tactics and shareholder lobbying, Australian energy companies Alinta and AGL have reached a deal to bring together their retailing, generation and transmission businesses into two separate companies.

In an announcement to the Australian Stock Exchange on Wednesday, the companies confirmed that Alinta would gain control of AGLÆs transmission and asset management businesses for a total of A$6.5 billion. The expanded Alinta would be 55% owned by Alinta shareholders and 45% by former AGL shareholders.

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