Sharechat Logo

Trans Alta takeover moves forward

By Phil Boeyen, ShareChat Business News Editor

Wednesday 6th September 2000

Text too small?
Natural Gas Corporation has moved a step closer to full ownership of electricity company TransAlta.

NCH says it has formally issued a notice of its intention to make an offer to acquire the TransAlta shares held by minority shareholders.

The company intends to make an offer for all of the ordinary shares of TransAlta, other than those already held by NCH, on or about September 20th. The offer is conditional on NGC holding or being entitled to hold 90% of all shares in TransAlta, as well as on the consent of the Overseas Investment Commission.

Natural Gas says proceeding with the takeover remains subject to prior acceptance of the offer by Hutt Mana Energy Trust, which has a 14.6% stake in TransAlta and is currently conducting a programme of public consultation with its beneficiaries.

The issuing of the notice is a statutory requirement in the proposed takeover process.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

State power profits below budget
TrustPower weathers bad winter
Contact coughs up $12M to NGC
Wholesale power prices doubled in June
Ouch! Another slap for Natural Gas
Special Report: Electricity - Worth A Flutter?
Sweet deal for Natural Gas