Cannon-Brookes wants 11.5% stake in Australia’s AGL Energy – zimo news


© Reuters. Atlassian CEO Mike Cannon-Brookes attends the Allen and Co. Sun Valley Annual Media Conference on July 11, 2019 in Sun Valley, Idaho, USA. REUTERS/Brendan McDermid/Files

Sonali Paul

MELBOURNE (Reuters) – Nearly two months after Australia’s largest power producer rejected its $5 billion takeover offer of A$400 million ($3.8 billion), tech billionaire Mike Cannon-Brookes ) is looking to buy an 11.5% stake in AGL Energy (OTC:). According to a market release from JPMorgan Chase (NYSE: ), Grok Ventures and Canada’s Brookfield Asset Management.

“Groc Ventures and its affiliates seek a physical and economic interest in acquiring up to an 11.5% stake in AGL Energy Limited in a strategic derivatives transaction,” the capital markets department said. JPMorgan’s ownership and derivatives seen in information release Reuters . .

If the deal goes ahead, Grok will announce its interest in AGL before the market opens on Tuesday, the statement said.

Cannon-Brookes’ share offering, co-founder of software company Atlassian (NASDAQ: ) Corp, was first reported by The Australian Financial Review.

AGL said the planned share purchase appeared to be an attempt to block shares before AGL shareholders voted on a plan to spin off the company, not as a prelude to an attempted takeover of the company. .

AGL will ask shareholders to vote in June on plans to split into an energy retailer called AGL Australia and a coal-fired power generation company called Accel Energy.

A spokesman for Grok declined to comment on Cannon-Brookes’ intentions.

(1 USD = 1.4174 AUD)


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