Australian Regulator Allows Sale of Alinta – MOVERS MARKETPLACE By Bloomberg

By Angela Macdonald-Smith

The Australian competition regulator said Monday that it would not oppose the sale of Alinta, the country’s biggest energy transmission company, for 8 billion Australian dollars to Singapore Power and Babcock & Brown. The buyers agreed to disclosure conditions as part of the approval, including the sale of Alinta’s stake in APA Group, a pipeline owner, and of pipeline operating contracts in eastern and Western Australia, the Australian Competition and Consumer Commission said.

Shareholders in Alinta, based in Perth, are due to vote Wednesday on the sale of the company for $6.8 billion in cash and shares to Singapore’s monopoly electricity supplier and to Babcock, the Australian investment bank.

Shares in Alinta rose 2 cents to 14.56 dollars. *

Angela Macdonald-Smith

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