The Australian Gas Light Company (AGL) expects to receive around $135 million following the accep...
The deal covers AGL's entire 20.5% shareholding in the New Zealand company, approximately 40.6 million shares at $NZ3.70 per share, and meets AGL's net carrying value of the investment.
The funds raised will be applied to debt reduction while the company re-focuses its efforts around the 66% owned New Zealand subsidiary, NGC Holdings.
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