The clarity of purpose created by this change will protect shareholder value, enabling each business to focus on their respective strategic opportunities and challenges presented by the accelerating energy transition.
Shareholders will get one share of each new business for each AGL share they currently hold.
The demerger plan, first flagged by then-CEO Brett Redman in late March, comes as AGL struggles with the collapse in wholesale power prices that has cut earnings the past several years. It has also highlighted the competing forces acting on its coal-heavy generation business on one side and retailing on the other, where increasingly digitally connected customers are demanding cleaner energy and installing rooftop solar and batterie…
Read the full article at: https://www.afr.com/companies/energy/agl-to-split-from-coal-plants-in-demerger-20210629-p585d1