Source Pravda.Ru

Australian Gas Buys Out Pulse Energy

Australian Gas Light Company, the nation's biggest energy retailer, has said that it has agreed to acquire Pulse Energy Pty for A$880 million ($495 million), giving it more than a quarter of the nation's energy market.

Australian Gas said it will sell A$325 million of new shares to help pay for retailer Pulse and affiliates Edgecap and Utili- Mode. Pulse is being sold by a group including Royal Dutch/Shell Group, Kansas City-based Aquila Inc. and United Energy Ltd.

Buying Pulse will make the Sydney-based company the largest energy supplier in Victoria, Australia's second-most populous state, boosting revenue by a quarter and giving it 3.1 million customers nationwide, twice that of its nearest rival.

“To be able to get a leading market presence in Victoria enables Australian Gas to become the dominant player across the nation,” said Andrew King, who holds Australian Gas shares among the A$900 million of securities he helps manage at Investors Mutual Ltd. in Sydney. He said he will take a look at the share sale.

©

&to=http://www.agl.com.au/' target=_blank>Australian Gaz Light Company

Comments
The Dark side of the Moon and the western political circus
The Dark side of the Moon and the western political circus
Russia's World Cup: 883 billion spent, 184 billion made
Russia's World Cup: 883 billion spent, 184 billion made
Russia's World Cup: 883 billion spent, 184 billion made
Russia's World Cup: 883 billion spent, 184 billion made
Russia's World Cup: 883 billion spent, 184 billion made
Russia's World Cup: 883 billion spent, 184 billion made
The Dark side of the Moon and the western political circus
Russia to prove its innocence in MH17 disaster
Russia disposes of US government bonds to buy more gold
Croatian footballers glorify Ukraine after defeating Russia. Scandal out of nothing?
Russia to prove its innocence in MH17 disaster
Russia to prove its innocence in MH17 disaster
The Future of NATO
Does Putin trust Trump now?
The Future of NATO
Melania Trump starstruck when shaking hands with Putin
Putin-Trump summit in Helsinki held in the cross hairs of the Russian fleet
Putin-Trump summit in Helsinki held in the cross hairs of the Russian fleet
Trump versus the Traitors on Capitol Hill