The Advertiser: SA power link with Victoria in new hands [31mar06]: "AUSTRALIAN Pipeline Trust will buy electricity-transmission assets linking the South Australian and Victorian markets for $153 million.

The Murraylink assets comprise the world's longest, underground, high-voltage, direct-current power cable, the trust said.
It extends 180km from Berri in SA's Riverland to Red Cliffs, near Mildura, Victoria.
Under the deal, APT will buy the owners, Murraylink HQI Australia and SNC-Lavalin Investment Australia.
'The acquisition is cash-flow positive and cash-yield accretive immediately, and enhances APT's ability to continue to expand distributions by, at least, (inflation) annually,' APT said. 'The impact on full-year profit is expected to be small.'





The deal would be funded by a one-year bridging-loan facility and gearing would increase to 68 per cent.
Chief executive Mick McCormack said the deal was the trust's first big move into the non-gas transmission market and a logical progression from natural gas pipelines into complementary energy-transmission assets.
'It is a low-risk operation and is an ideal asset to leverage off our skills and asset management experience,' he said. 'The asset management, operating, and regulatory skills involved in managing the Murraylink assets are similar to those needed to run a gas pipeline business.' "