Business
7 reasons the AGL (ASX:AGL) demerger might be bad for its share price
The AGL Energy Limited (ASX: AGL) share price was out of form on Tuesday despite the release of a major announcement.
After initially storming higher, the energy company’s shares ended the day 3.5% lower at $9.81.
What did AGL Energy announce?
On Tuesday AGL announced provisional plans to split into two businesses – New AGL and PrimeCo.
New AGL will be Australia’s largest multi-product energy retailer, leading the transition to a low carbon future. Whereas PrimeCo will be Australia’s largest electricity generator, supporting the economy as the energy market evolves.
Management believes the proposed separation will give each business the opportunity to execute their own respective strategies and growth agendas.
What’s the…
-
Noosa News22 hours agoFlatmates of missing teen Pheobe Bishop, 17, identified
-
Noosa News20 hours agoFranz Ferdinand: Australian Tour 2025
-
General21 hours agoPostecoglou’s message touches Blues AFL coach Voss after Spurs’ Europa League win
-
Noosa News23 hours agoRider busted in risky act with dog on motorbike