latest article from aap.
what is interesting are the last two sentences. read between lines.
the speculation medias are in doubt as well..
note:
at a time ""significantly falls outside of BBP's expectations" could result in it reassessing the value of the Alinta business."
latest ann change name to alinta energy "a critical step in moving forward as an independent, stand-alone energy business".
it indicates interim award is not as bad as speculation predict...otherwise, bbp will not consider to change its name to alinta energy.
*** full article follow ***
B&B Power gas stand-off continues
19-November-09 by AAP
Babcock & Brown Power (BBP) stapled securities will remain suspended while the debt-laden firm continues to discuss gas prices with the North West Shelf joint venture.
The electricity generation company's stapled securities last traded on the Australian stock exchange on November 9, when they closed at 7.6 cents.
BBP's trading suspension is expected to lift next week when BBP says it should be in a position to reveal the outcome of arbitration with the Woodside Petroleum-led North West Shelf players and their banks.
The arbitration began in October last year on a long-term contract that BBP's wholly-owned WA gas retailing business Alinta entered into in 1998.
Reports suggest Alinta may wind up paying at least twice as much as it used to for gas from the North West Shelf.
BBP has received an interim determination in relation to the arbitration but needed time to assess its impact and continue talks with the North West Shelf parties.
"BBP is continuing with its process of engaging with the relevant parties to ascertain a full understanding of the implications of the interim award," the company said in a statement on Thursday.
BBP said last month it could not conclude its restructuring of $2.6 billion in debt until it understood the outcome of the arbitration.
It said at the time that a final determination that "significantly falls outside of BBP's expectations" could result in it reassessing the value of the Alinta business.
However, BBP said on Wednesday it would seek securityholder approval to change its name to Alinta Energy, "a critical step in moving forward as an independent, stand-alone energy business".
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