27/11/2008 - 14:14

ERM quiet on WA power stations offer

27/11/2008 - 14:14

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ERM Power is keeping quiet about its intentions over the potential sale of Babcock & Brown Power's interests in two Western Australian power stations to ANZ.

ERM quiet on WA power stations offer

ERM Power is keeping quiet about its intentions over the potential sale of Babcock & Brown Power's interests in two Western Australian power stations to ANZ.

When contacted by WA Business News, an ERM spokesperson said the company stands by an earlier statement which said ERM "will look to take advantage of our pre-emptive rights to purchase".

ERM is a joint venture partner in the Neerabup power station and NewGen Kwinana power station, which was opened earlier this month.

Earlier this week, BBP said it had received a $130 million offer from ANZ Infrastructure Services, a wholly-owned subsidiary of ANZ Banking Group, for its interests.

A BBP spokesperson told WA Business News that ERM has 20 days to exercise its pre-emptive rights.

BBP holds a 70 per cent interest in NewGen and a 50 per cent interest in Neerabup.

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