something big, page-23

Just to be exact, the retail business was valued at about $1.58B....

BBP has since written off about $400M in Goodwill (Goodwill from the Retail and Power station business)

Just looking at NTA and not NA ignore the retail business.

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Alinta to acquire 100% of AlintaAGL
Babcock & Brown Power (ASX:BBP) today announces that it has been advised by AGL Energy (AGL) that they do not intend to exercise their option to acquire the 67% interest in AlintaAGL held by Alinta. Accordingly, Alinta will acquire AGL’s 33% interest in AlintaAGL.
As announced to the ASX on 24 September 2007, Alinta set the exercise price for AGL to acquire Alinta’s 67% interest at $1,060 million. AGL had up to three months to exercise its option.
As a result of AGL’s decision not to exercise their option, Alinta will acquire AGL’s 33% interest in AlintaAGL at a pro-rated equivalent price of $522 million. It is anticipated that the transaction will be finalised by the end of December 2007.