27. Acquisition of subsidiaries and businesses
Acquisition of Perth Energy Holdings Pty Ltd
On 2 September 2019, AGL completed the purchase of 100% of the outstanding share capital of Perth Energy Holdings Pty Ltd based on an enterprise value of $93 million. Perth Energy was Western Australia’s leading independent energy retailer, marketing electricity and gas to small and medium size enterprises and commercial and industrial users. The business also owns and operates the 120 MW Kwinana Swift dual fuel peaking power station.
Acquisition of Southern Phone Company Limited
On 18 December 2019, AGL completed the purchase of 100% of the outstanding share capital of Southern Phone Company Limited for consideration of $28 million. Southern Phone Company is a provider of fixed line, mobile and internet communications services in regional Australia with 167,000 broadband and mobile accounts nationwide.
There were no acquisitions of subsidiaries and businesses made during the year ended 30 June 2019.