The group said on June 23 it had received a number of indicative...

The group said on June 23 it had received a number of indicative takeover bids as it warned its loan covenants could come under pressure and had asked its lenders to vary them.
Trade bidders are reported to include Saudi Arabia's ACWA and Bahrain investor Arcapita. BHP Billiton and APA Group have, meanwhile, been pursuing individual assets, namely the Pilbara power stations and Goldfield pipeline, respectively.

Another recapitalisation process led by a consortium including TPG, Oaktree and Anchorage Capital is said to involve a $300m rights issue and debt for equity swap. The three private equity investors hold about 35 per cent of Alinta senior debts.

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