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BRIEF-Infratil Limited Announces Agreement To Sell Perth Energy To AGL

Published 08/08/2019, 06:38 am
Updated 08/08/2019, 06:40 am
© Reuters.  BRIEF-Infratil Limited Announces Agreement To Sell Perth Energy To AGL
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Aug 8 (Reuters) - Infratil Ltd IFT.NZ :

* INFRATIL LIMITED - AGREEMENT TO SELL PERTH ENERGY TO AGL

* INFRATIL EXPECTS TO RECEIVE CASH PROCEEDS OF APPROXIMATELY A$55.0 MILLION FOR ITS 80% SHAREHOLDING

* INFRATIL MAY RECEIVE FURTHER SALE PROCEEDS OF UP TO A$14.9 MILLION IN CASH WITHIN THREE YEARS

* AS AT 31 MARCH 2019, INFRATIL'S BOOK VALUE FOR PERTH ENERGY WAS NZ$89.3 MILLION

* SALE IS CURRENTLY EXPECTED TO GIVE RISE TO A LOSS ON DISPOSAL OF NZ$33.0 MILLION

* SALE COMPLETION WILL ALSO RELEASE INFRATIL FROM ITS CREDIT SUPPORT OF PERTH ENERGY, WHICH AS AT 31 MARCH 2019 AMOUNTED TO A$64.7 MILLION

* SALE COMPLETION WILL ALSO RELEASE INFRATIL FROM ITS CREDIT SUPPORT OF PERTH ENERGY

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