Infratil sells Australian energy assets for A$605 mln

Sun, 14 Sep 2014

By Paul McBeth Sept. 15 (BusinessDesk) - Infratil, the infrastructure investor, has sold its Australian energy assets to Snowy Hydro for A$605 million, plus an adjustment for final working capital. The Wellington-based company sold Lumo Energy and Direct Connect Australia after reviewing its ownership of the assets in May, and the deal is expected to complete at the end of this month, Infratil said in a statement late on Friday. It estimates net proceeds of between $646 million and $664 million, reflecting a gain on sale of between $343 m...

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