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Friday October 6, 9:55 AMAGL shareholders back Alinta deal in proxy voteMELBOURNE, Oct 6 (Reuters) - Shareholders in energy retailer Australian Gas Light Co. have overwhelmingly approved a A$6.8 billion ($5.1 billion) asset swap plan with energy infrastructure group Alinta Ltd. in proxy votes.The proxy votes showed 187 million votes in favour of the plan and 1.1 million votes against. Alinta shareholders are also expected to approve the plan later on Friday, clearing the way for AGL to become New AGL focused on gas production, power plants and energy retail, while Alinta becomes Australia's biggest owner of gas and power infrastructure. Under the plan, Alinta will take control of AGL's eastern Australian infrastructure assets and asset management business, and AGL will get 33 percent of Alinta's Western Australian retail and co-generation business, with an option to buy the rest over the next five years. AGL shareholders will also receive Alinta shares, giving them a 44 percent stake in Alinta. ($1=A$1.34) |
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