Australian integrated energy company AGL Limited has completed the sale of its 33% interest in AlintaAGL to Babcock and Brown Power.

Australian investment fund and asset management group Babcock & Brown has, together with Babcock & Brown Infrastructure and a syndicate of investors and Babcock & Brown managed accounts, acquired an 80% holding in MidCon, which owns the Natural Gas Pipeline Company of America, and related businesses.

Australia-based integrated energy company AGL has announced that it will sell its 33% interest in AlintaAGL to Alinta, an Australian utility, for A$522 million.

By Angela Macdonald-Smith Babcock & Brown Power, the biggest publicly traded electricity producer in Australia, set a price of 1.06 billion Australian dollars, or $920 million, for AGL Energy to acquire the rest of an energy retail venture in Western Australia.

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.