AGL Energy Ltd might initiate a strategic review as soon as Monday, as questions over the Australian electricity producer’s plans to split into two businesses deepen.
According to the Australian newspaper, AGL was considering its options on Sunday, amid market speculation that dividing the business into retail and generating sections would not have enough shareholder support to go through.
AGL’s board was to meet this afternoon to determine the next steps, with a decision possible on Monday.
One option was to launch a strategic review that could boost the chances of AGL being sold off.
Shareholders are set to vote on June 15 on AGL’s demerger plan.
The split would form AGL Australia and Accel Energy, the country’s top power producer and retailer respectively.
This report’s information was first seen on Reuters; to read more, click this link.