13/05/2009 - 12:55

B&B Power in halt on outlook impact

13/05/2009 - 12:55

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Babcock & Brown Power, the owner of Alinta's retail assets, have placed its shares in a trading halt, pending the release of details likely to have an impact on the business.

B&B Power in halt on outlook impact

Babcock & Brown Power, the owner of Alinta's retail assets, have placed its shares in a trading halt, pending the release of details likely to have an impact on the business.

"The reason for the trading halt is that BBP is currently unable to make an immediate announcement pending the finalisation of a number of matters that are likely to have a material impact on BBP, including a revised outlook for BBP's business," the company said.

BBP expects to make an announcement before the start of trade on Friday.

Shares in the company last traded at 10 cents.

Throughout this calendar year, BBP finalised the sale of assets of Alinta EATM, which supplies gas to a range of wholesale energy market participants on the eastern seaboard.

BBP has also completed the sale of its interests in the Kwinana and Neerabup power stations in Western Australia.

Funds generated from the asset sales were used to pay down debt.

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