AGL Energy Limited (AGL) refers to a report in The Australian Financial Review of AGL’s potential interest in acquiring Vocus Group Limited (Vocus).
AGL stated at its half-year results in February 2019 that it was assessing growth opportunities to meet the needs of increasingly connected customers as energy and data value streams continue to converge. In recent months, AGL has been assessing investment opportunities to support this strategy.
AGL recently contacted Vocus with a confidential, non-binding indicative offer, seeking access to due diligence materials so AGL could determine whether to make a binding offer for Vocus.
AGL has now withdrawn this non-binding indicative offer after being unable to agree due diligence terms that were acceptable to AGL.
AGL will continue to assess opportunities to support its strategy.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.