By NZPA
|
Friday 5th July 2002 |
Text too small? |
Minneapolis-based NRG is putting up several of its Asia Pacific assets for sale, primarily in Australia.
Contact said it was pursuing the potential investment in its own right, and there were no plans for any co-investment by Contact's 51 percent shareholder, Edison Mission Energy.
Recently the company ran into strife with its shareholders for initially agreeing to a partnership with Edison in a Victorian power station.
Some shareholders claimed the arrangement breached the spirit of company rules which would otherwise have forced the company to seek shareholder approval.
The investment was eventually dropped.
This time Contact said Edison had agreed to make available consultants to advise Contact on such areas as coal plants, the Australian market and financial analysis.
If Contact was successful, it was anticipated that Edison would provide ongoing technical services, the company said. A core team of senior Contact Energy staff, led by chief executive Steve Barrett, had been assigned to the project.
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