(MENAFN) AGL has turned down Alinta Energy's USD250 million offer to buy Liddell Power Station and reaffirmed its decision to close the plant in 2022.
According to the company, it evaluated the offer from Alinta and its Hong Kong-based owner, Chow Tai Fook Enterprises, and that the deal significantly undervalues future cashflow from the NSW site.
It also said the offer is not in the interest of its shareholders and that it will stick to its NSW power generation plan, which includes repurposing the Liddell site to address any capacity shortfall after its closure in 2022.
The company said in a statement: "AGL has completed a thorough assessment of the offer and, after careful consideration, has advised Chow Tai Fook and Alinta that it will not proceed any further with the offer."
MENAFN2105201800450000ID1096887090
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.