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Shareholders of the two companies on Friday voted overwhelmingly in favour of the scheme of arrangement, which was required to implement the recommended proposal.
AGL said it expects the scheme, which involves merging its infrastructure assets with Alinta and the subsequent separation of AGL Energy, would become legally effective from tomorrow.
New AGL shares and Alinta shares will begin trading on the Australian Stock Exchange on a deferred settlement basis from October 12-25, and on an ordinary basis on Friday, October 13.
The asset-swap will create Australia’s biggest integrated energy company, to be named New AGL, with $14 billion in assets under management.
It will also establish the nation’s largest energy infrastructure company, to be called New Alinta, in which AGL shareholders will own about 44%.
