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B&B Power trading halt sparks asset sale queries

13th May 2009, 10:45 WST

Babcock & Brown Power (BBP), the owner of Alinta’s retail energy network, has gone into a share trading halt, sparking speculation about its asset sale program.



BBP put itself on the block last year and had short-listed several parties, none of whom have been identified.



Some of the parties were interested only in the company’s east or west coast portfolio of assets.



The company, which has already sold some generation assets to reduce debt, said today it was working to finalise “a number of matters that are likely to have a material impact on BBP, including a revised outlook for BBHP’s business”.



Alinta is WA’s biggest gas retailer, serving nearly 600,000 customers.



BBP shares last traded down half a cent at 10c.