ATCO has acquired a 74.1% stake in WAGN from WestNet Infrastructure through AET&D, and the remaining 25.9% stake in WAGN from DUET Group, giving ATCO 100% ownership.
The aggregate purchase price of the acquisition, including transaction costs, was about A1bn ($1.104m), including the assumption of approximately A644m ($711.7m) of debt.
Included in the acquisition is WestNet Infrastructure’s information technology division, a supplier of information technology services to utility companies.
ATCO said WAGN is now a wholly-owned subsidiary of Canadian Utilities, an ATCO company.
ATCO Australia provides services through its power, energy infrastructure and operations divisions, and operates three progressive power generation plants in the country.
WAGN is the natural gas distribution utility company that serves metropolitan Perth and surrounding regions.
