Business
AGL’s split businesses set for ‘compelling growth’ – The Australian Financial Review
Chief financial officer Damien Nicks says AGL shareholders are likely to get shares in two demerged companies, both with “compelling growth”.
The uncertainty was heightened by the shock April exit of former chief executive Brett Redman in the middle of the splitting process, requiring former chairman Graeme Hunt to step in as interim CEO.
Mr Nicks signalled the debt arrangements for PrimeCo had yet to be finalised. Whilst it is not yet confirmed, we envisage PrimeCo would pursue a debt structure that would provide lenders a clean line of sight to reduce their exposure to coal over time.
The restructuring is being forced by the rapidly…
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