The Australian Financial Review’ Street Talk column claimed that TPG had hired Lazard Australia to run an auction for Alinta and it would happen before the various “poles-and- wires” infrastructure sales by the New South Wales and Queensland governments.
“Alinta’s owners are exploring future ownership options for the company,” Alinta later said to press media yesterday.
“This process was always intended as part Alinta’s private equity ownership structure.”
The Australian Financial Review reported that TPG was seeking a potential trade sale for $3.5-4 billion – with pitches likely to be made to AGL Energy, Origin Energy and EnergyAustralia.
The West Australian reported that an Alinta sale could be a windfall outcome for key management personnel who received millions of shares over the past four years under an interest free, loan-based incentive scheme.
“Loans to key management personnel ballooned to $61.74 million in the year to June 30 from $38.45 million in 2012-2013,” the newspaper reported.
“Nine executives led by chief executive Jeff Dimery have been classified as key management personnel over the past two years. They have pocketed a cumulative $36.3 million in remuneration, including $10 million in share-based rewards.”
