The Canadian Brookfield buys 2.6% of the capital of the Australian AGL Energy

The logo of AGL Energy Ltd, Australia’s second-largest electricity retailer, adorns its headquarters building in Sydney, Australia, February 8, 2017. Picture taken February 8, 2017. Picture taken February 8, 2017. REUTERS /David Gray

June 30 (Reuters) – AGL Energy (AGL.AX), Australia’s biggest power producer, said on Thursday it learned that a unit of Canadian investment manager Brookfield Asset Management (BAMa.TO) had bought about 2.6% of its stake on June 24.

The acquisition of the stake comes after AGL in March rejected a 5.4 billion Australian dollars ($3.71 billion) takeover bid from a consortium of tech billionaire Mike Cannon-Brookes and Brookfield in favor of its split plan. Read more

The split plan was scrapped in late May after Cannon-Brookes, which had bought an 11% stake in the power producer earlier that month, objected. Read more

Sydney-based AGL said in a statement that it became aware of the purchase of the 2.6% stake “through routine register scan responses, and therefore the information is historical. “. (https://bit.ly/3OvpthH)

AGL said any “subsequent negotiation could have altered the position” held by Australian 123456789 4 Pty Ltd, a company which appears as a subsidiary of Brookfield on the Australian Securities Regulator’s website.

Brookfield declined to comment when Reuters asked for confirmation.

Shares in the Australian power producer rose 1% to 8.48 Australian dollars, at 0029 GMT.

($1 = 1.4541 Australian dollars)

Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu

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