Wheels in motion for Aquila carve up

The wheels are in motion for the carve up of the $4 billion worth of Australian assets controlled...

It is understood that AMP and AlintaGas are finalising a deal that will see the two split ownership of the gas and electricity distribution assets of United Energy and unlisted Multinet Ikon.

The United Energy board meets today while the AlintaGas board will meet in Perth tomorrow to approve the takeover of United Energy. Most analysts expect a joint AMP/Alinta bid of about $3.20 for United Energy.

Following a successful takeover, AlintaGas will then on-sell about two-thirds of the combined distribution networks to the AMP Defender Fund. In a separate transaction, the fund will buy out the half stake in Multinet Ikon held by Aquila.

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