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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| APA Group | ASX:APACD | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jun 2019 to Jun 2024
By David Winning
SYDNEY--Power generator and retailer AGL Energy Ltd. (AGL.AU) said Tuesday it has sold its 50% stake in the Diamantina Power Station venture in eastern Australia to joint-venture partner APA Group (APA.AU) for 151 million Australian dollars (US$114 million).
AGL said the deal represented a small premium to the book value of the investment and would contribute to its target of selling A$1 billion of unwanted assets by the end of the financial year through June, 2017.
The Diamantina Power Station venture, located at Mount Isa in Queensland state, comprises the 242-megawatt combined cycle gas turbine Diamantina Power Station and the 60-megawatt open cycle gas turbine Leichhardt Power Station. The generating assets supply Glencore PLC (GLEN.LN) and state-owned Ergon Energy.
AGL said it would continue to supply natural gas to the Diamantina Power Station under an existing gas sales agreement, which runs to 2023.
-Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
March 28, 2016 18:31 ET (22:31 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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