Australian Pipeline Agrees to Buy Allgas for A$521 Million

Oct. 3 (Bloomberg) -- Australian Pipeline Trust, the nation's biggest owner of natural gas pipelines, agreed to buy the Allgas gas distribution business from Energex Ltd. for A$521 million ($390 million).
The purchase followed a competitive tender process held by the Queensland state government, Sydney-based Australian Pipeline said today in a statement to the Australian Stock Exchange.
To contact the reporter on this story: Angela Macdonald-Smith in Sydney at