name = Alinta Limited
foundation = As AlintaGas Ltd - Jan
location = flagicon|AUS Perth,
Western Australia, Australia
John Akehurst, Chairman Bob Browning, CEO
industry = Energy
products = Gas
revenue = profit $1.48 billion AUD (2006, [http://www.alinta.net.au/investor/companyReports/annualReports/2006AnnualReport.pdf] )
net_income = profit $0.17 billion AUD (2006, [http://www.alinta.net.au/investor/companyReports/annualReports/2006AnnualReport.pdf] )
num_employees = ~3200
homepage = [http://www.alinta.net.au www.alinta.net.au]
Alinta is an Australian energy infrastructure company. It has grown from a small,
Western Australiabased gas distributor and retailer to the largest energy infrastructure company in Australia. It has become known for its aggressive approach to growth through acquisition and financial engineering.Fact|date=February 2007 It is owned by a consortium including Singapore Powerand various Babcock & Brownfunds. [cite press release |title=Alinta Scheme Implemented |url=http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00755054 |publisher=ASX |accessdate=2007-09-05 |date=2007-08-31]
The word Alinta is derived from the word for fire in a traditional language of an Aboriginal tribe from Victoria.
It was formed as AlintaGas in January 1995 when the vertical monopolist energy supplier, the
State Energy Commission of Western Australia, was disaggregated into separate gas and electricity corporations. On 13 July 2000legislation was passed by the Government of Western Australiafor the sale of AlintaGas which subsequently listed on the Australian Stock Exchange(ASX) on 17 October 2000.
8 May 2003AlintaGas Ltd officially changed its name to Alinta Limited.
23 July 2003through a series of complicated transactions involving Alinta, Aquila Inc, United Energy, and AMP Henderson Global, Alinta became the operator, manager and part owner of regulated energy assets in Western Australia and Victoria. Through this transaction it also acquired National Power Servicesfrom United Energy.Fact|date=February 2007
In April 2004 Alinta acquired
Duke EnergyInternational's assets in Australia and New Zealand. In October 2004 a DUET/Alinta/ AlcoaConsortium acquired the Dampier to Bunbury Natural Gas Pipelinefrom Epic Energy. Alinta Network Services was appointed as the operator and manager of the pipeline under an Operational Services Agreement.Fact|date=February 2007
4 October 2005Alinta publicly floated the pipelines and power stations it acquired from Duke EnergyInternational into a separate investment vehicle, Alinta Infrastructure Holdings (AIH) which also traded on the ASX. In October 2006 Alinta, through Alinta IH Pty Ltd ( Alinta IHPL), made an offer to buy out the 80% of the shareholding in AIH that it did not already own. By 11 January 2007Alinta had acquired 91.4%, and moved to compulsorily acquire the remainder. [cite web |url=http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00685823 |title= AAN Compulsory Acq. Notice for remaining AIH Securities |publisher= Australian Stock Exchange|author=Alinta Limited |accessdate=2007-01-31 |date= 2007-01-18|format=PDF]
Alinta acquired infrastructure assets and the "Agility" business from AGL through a combination of merger and demerger transactions on
25 October 2006. [cite web |url=http://www.ato.gov.au/print.asp?doc=/content/82341.htm |publisher= Australian Taxation Office|title=Alinta Ltd merger with the Australian Gas Light Company (AGL) - October 2006 |date=2007-01-18 |accessdate=2007-01-31]
9 January 2007Alinta announced that senior executives and the Chairman were working on a Management buyoutproposal, with Macquarie Bankas their advisor. [cite news |title=Management 'cherry-picking' Alinta |url=http://www.smh.com.au/news/business/management-cherrypicking-alinta/2007/01/09/1168104982231.html |author=Michael Evans |date=2007-01-10 |publisher= Sydney Morning Herald|accessdate=2007-01-31] As a result, the chief executive officer Bob Browningresigned on 11 January 2007, and the company was clearly for sale to the highest bidder.
The company was eventually acquired by a consortium between Australia's second-largest investment bank,
Babcock & Brown, and Singapore Power, the largest utility company in the city-state. [cite news |first = |last = |title = Australia's Alinta recommends US$6b bid by Babcock, Singapore Power |url = http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/267365/1/.html |publisher = Channel NewsAsia|date = 30 March 2007] after putting up a bid of A$13.9 billion, beating out a rival bid by Macquarie Bank. [cite news |first = |last = |title = SingPower group in $17b buyout of Aussie firm |url = |publisher = The Straits Times|date = 30 March 2007]
The Alinta Limited take over by a consortium comprising Singapore Power International (SPI), Babcock & Brown Infrastructure (BBI) and Babcock & Brown Power (BBP) was completed in late August 2007. Subsequently, Alinta Limited was delisted from the Australian Securities Exchange in September 2007. The company was split into the following businesses:
* Alinta, retaining the West Australian gas retail business
WestNet Energy, which provides asset management, operational, construction and maintenance services to the owners of the AlintaGas Networks gas distribution system in Western Australia; and to the owners of the Dampier to Bunbury Natural Gas Pipeline. It is also a major contractor in overhead and underground electricity cabling.
* Alinta LGA, renamed to
Jemenaon 4 August 2008, which manages energy infrastructure assets in the eastern states of Australia including Queensland and New South Wales gas pipelines and gas and electricity distribution networks [ [http://www.alinta.net.au/ Alinta.net.au] ]
* [http://www.austehc.unimelb.edu.au/asaw/biogs/A001450b.htm Australian Science at Work - State Electricity Commission of Western Australia (1945 - 1975)]
* [http://www.austehc.unimelb.edu.au/asaw/biogs/A001452b.htm Australian Science at Work - State Energy Commission of Western Australia (1975 - 1995)]
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