AGL shares slide on Tilt Renewables stake review
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More news: AGL shares lowered in morning trade after the energy company said it is reviewing its 20% equity stake in green energy supplier Tilt Renewables.
AGL shares were down 1.1% to $10.13 at 11:05am AEST, taking losses to 10.3% since the turn of the year.
AGL in 'preliminary investigations' over sale of Tilt Renewables stake
The news: Integrated energy company AGL has confirmed that it is conducting "preliminary investigations" about its 20% equity interest in green energy supplier Tilt Renewables.
The context: In a release to the market, AGL noted that the investigations are part of a routine review of its assets and investments, and the company is not currently involved in any discussions with potential buyers.
The electricity generator and retailer was responding to a media report in the Financial Review, which claimed the company had hired Bank of America’s local head of infrastructure and utilities Sam Watson to launch a sale process for the 20% holding.
