Alinta buys 4% stake in Pipeline Trust -

Energy distributor Alinta Ltd has bought a four per cent stake in the Australian Pipeline Trust (APT).
Alinta on Wednesday acquired 11.3 million units in APT, paying $5.00 per unit to a number of institutions and retail shareholders.
The units represent about four per cent of the company.
Alinta said it made the investment to provide it with greater flexibility and value in regard to complying with undertakings given to the Australian Competition and Consumer Commission (ACCC) or any amended undertakings that may be negotiated.
As part of the ACCC's approval to Alinta and Australian Gas Light Company's (AGL) merger, Alinta provided an undertaking that it will divest the units it acquires in APT.
"Nothing has changed in relation to this undertaking and Alinta will investigate all options relating to the divestiture of these assets, including a trade sale or a sale of the units to the equity markets," Alinta said.
Alinta said it intended to seek further meetings with the competition regulator to determine if its competition concerns would be accommodated through the physical separation of certain assets.
It was referring to the Moomba to Sydney Pipeline, the Parmelia Pipeline and the Agility contracts in respect of those assets.
"Alinta has several possible outcomes that it would like to discuss with the ACCC, all of which Alinta believes are in the best interests of all APT unitholders," it said.
Earlier this month, the ACCC gave the $6.8 billion merger between AGL and Alinta the green light.
Once the deal is complete, Alinta will acquire AGL's infrastructure business, Agility, for $6.45 billion, while Alinta will acquire a third of Alinta's West Australian retail and co-generation business.
© 2006 AAP