METS

Investors not yet sold on Pacific power play

Investors are a little circumspect about Australian remote-power generator Pacific Energy’s debt-funded A$90 million (US$70 million) acquisition of rival Contract Power Group (CPG), and suspension of dividend payments, marking Pacific’s shares down slightly after it emerged from a trading halt.

Staff reporter
 Panoramic Resources' Pacific Energy power plant in Western Australia

Panoramic Resources' Pacific Energy power plant in Western Australia

Pacific Energy (ASX: PEA) went into a trading halt Thursday and subsequently announced the deal to buy Leon Hodges' CPG. The two power-set providers had been "healthy competitors for over two decades",...

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