AGL (ASX:AGL) to split into two businesses

Company News

by Rachael Jones

AGL (ASX:AGL) plans to separate the company to create two energy businesses focused on executing distinct strategies.

One part will be called “New AGL” a multi-product energy retailer.

The second will be “PrimeCo” Australia’s largest electricity generator supplying major wholesale, industrial and retail electricity users.

AGL currently supplies around 4.5 million energy and telecommunications customer services.

Shares in AGL (ASX:AGL) are trading 1.97 per cent higher at $10.37.