AGL Energy (AGL) to do the splits
AGL -3.54%: The company announced it was looking to split out the retail energy & wholesale supply businesses, looking to unlock value for shareholders by ring fencing the carbon exposure within the energy generation arm by the end of the fiscal year. The generation arm will produce around 20% of Australia’s energy while the new AGL will remain the largest retailer. The move is a smart one, but for now AGL faces a numbers of headwinds which outweigh the benefits in MM’s view.
MM remains neutral AGL at best
Add To Hit List
