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APT yesterday said as of close of business on Wednesday, it held a direct majority stake of 50.06% and a relevant interest of 56.51% in the Victorian gas transmission operator.
The offer, of $3.10 per security, is due to close on October 18, unless extended.
APT said it expects to discuss the composition of the GasNet board with its directors next week.
APT runs 8000km of transmission pipeline in Australia, accounting for almost a quarter of the nation’s grid. The GasNet acquisition would add a further 2000km of pipeline.
