Completion of sale of Perth Energy to AGL
On 8 August 2019, Infratil Limited ("Infratil") announced the conditional sale of Perth Energy to AGL Energy Limited (“AGL”).
Infratil confirms that the sale of Perth Energy to AGL was completed today.
Infratil received cash proceeds of A$53.3 million for its 80% shareholding, with final proceeds to be adjusted for normal working capital and net debt adjustments. As previously announced, Infratil may receive further sale proceeds of up to A$14.9 million in cash within three years, contingent on financial outcomes under a material contract and the tax treatment of certain penalty refunds which Perth Energy may become entitled to claim.
Completion of the sale has also released Infratil from its credit support of Perth Energy, which as at 31 March 2019 amounted to A$64.7 million.
Any enquiries should be directed to:
Phillippa Harford, Chief Financial Officer, Infratil Limited