AGL better placed to return capital after selling 50% of Macarthur to Morrison & Co

Tue, 08 Sep 2015

By Jonathan Underhill Sept. 8 (BusinessDesk) - AGL Energy, Australia's largest listed renewable energy company, is better placed to return capital to shareholders after completing the sale of its 50 percent stake in the 420 megawatt Macarthur Wind Farm to HRL Morrison & Co, says brokerage First NZ Capital. Funds managed by Wellington-based Morrison, which is also the manager for NZX-listed infrastructure investor Infratil, agreed to buy into the wind farm in southwest Victoria for A$532 million, or about book value. The remaining 50 perce...

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