Aug 8 (Reuters) - Utilities investor Infratil Ltd IFT.NZ said on Thursday it would sell its 80% stake in Perth Energy to Australia's biggest power producer AGL Energy AGL.AX for A$55 million ($37.17 million) after starting a review of the investment last year.
Infratil may get further proceeds of A$14.9 million in cash within three years based on meeting of certain criteria, it said in a statement.
Perth Energy is among the top electricity retailers in Western Australia and its acquisition would bolster AGL's footprint in the region.