Stocks of the Hour: Meridian Energy, AMP & Mesoblast

Company News

by Lauren Evans

Meridian Energy (ASX:MEZ) has agreed to sell its Australian business Powershop to a consortium comprising Shell Energy and Infrastructure Capital Group for $729 million. Completion is expected to occur in the first quarter of 2022. Shares in Meridian Energy (ASX:MEZ) are trading 2.7 per cent lower at $4.35.

AMP Capital (ASX:AMP), owned by financial services provider AMP, will remain as manager of the Wholesale Office Fund (AWOF) following a thorough review process. The decision to retain AMP Capital will include governance changes, increased manager alignment and reduced fee arrangements. Shares in AMP (ASX:AMP) are trading 3.7 per cent higher at $1.18.

Mesoblast (ASX:MSB) has agreed to a US$90 million debt facility with Oaktree Capital Management to pay off an existing debt facility and to help the company expand in the US. The facility has a three-year interest only period at a rate of 9.75 per cent per annum. Shares in Mesoblast (ASX:MSB) are trading 1.5 per cent lower at $1.70.

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