Australian Power and Gas assets include the Barcaldine power station in Queensland, the Brewer power plant and wholly-owned LNG plant in Alice Springs as well as the Gilmore and Eromanga gas assets in Queensland.
"This proposal will provide the CBA with further debt reduction and it will ensure the company maintains a sound position going forward," EWC told the market.
EWC added if the bank is willing to accept the proposal, the details of the proposal will be the subject of an independent expert's report and later released to shareholders for consideration and approval.
