can anyoe post the artcle i didnt get afg today????There was...

can anyoe post the artcle i didnt get afg today????

There was this post ON DJ Newswire , but didnt give too much detail



11 Mar 2008 11:59 GMT DJ UPDATE:Australia Allco Finance Grp To Sell Allco Wind Energy


(Updates with more detail and comments from Marathon.)


LONDON (Dow Jones)--Australia's Allco Finance Group (AFG.AU) is to sell Allco Wind Energy, which has a portfolio of investments in wind energy projects totaling about 4,000 megawatts in the U.S., Europe and Australasia, AWE's Chief Executive Steen Stavnsbo told Dow Jones Newswires Tuesday.

"We issued a teaser over a week ago and received an overwhelming response - more than 50 companies have expressed interest," Stavnsbo said. The companies include large U.S. and European energy companies and large global financials, he added.

Marathon Capital LLC has been appointed to assist in the sale that will include the 3,100 MW Tehachapi project in California - considered to be the jewel in the crown of the company.

"The area is an established wind area and we're expecting a premium on the price because of the higher quality of these (Californian) assets," Stavnsbo said.

Marathon CEO Ted Brandt said the value of the deal was likely to be similar to or exceed the more than $2 billion plus debt that Portuguese utility Energias de Portugal SA (EDPFY) paid for U.S. wind power unit Horizon Wind Energy LLC.

"There isn't another project that allows a player to step in and become the largest purveyor of wind generated electricity in the largest state in the U.S.," Brandt said.

AWE currently has a multi-year development and power purchase agreement with Southern California Edison for 1,550 MW and is due to commission 24 MW in Tehachapi this month, Stavnsbo said.

AWE also has some 1,600 MW of projects in Australia and New Zealand in addition to 100 MW in Europe.

Although a final decision hasn't been made whether the company will be sold off in regional chunks or as a global business, it is starting to look like it could be packaged together as a global interest, Stavnsbo said.

The next step is to narrow the field down to between 25 to 35 candidates who will participate in the next round with indicative bids expected by the end of March, beginning of April. A shortlist of between three to five candidates will be selected for the sale, which is expected to be completed by the middle of the second quarter.


-By Selina Williams, Dow Jones Newswires, +44 207 842 9262; [email protected]