AGL to buy MacGen for $1.5bn

Energy giant inks agreement to but Macquarie Generation, pending ACCC approval.

Energy heavyweight AGL Energy (AGK) has inked an agreement with the New South Wales government to buy its electricity generator Macquarie Generation for $1.505 billion, but the deal hinges on approval from the competition watchdog.

AGL, which has a market capitalisation of $8.5 billion, beat energy minnow ERM Power and Japanese power giant Marubeni for the prize, in a sales process run by Goldman Sachs.


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