Cannon-Brookes looking to thwart AGL’s demerger plans after buying stake in energy company

 Australian tech billionaire and Atlassian co-founder Mike Cannon-Brookes has officially become the largest shareholder in energy giant AGL (ASX: AGL), as he launches plans to throw water on the company’s proposed demerger.

Cannon-Brookes, via his investment vehicle Grok Ventures, now holds an 11 per cent interest in AGL, whose board is looking to split the group into two companies - something the entrepreneur believes would “deliver a terrible outcome for shareholders, customers, Australian taxpayers and the planet”.

The Grok Ventures founder is urging other AGL shareholders to vote against the proposed demerger, and is putting pressure on the company to transition to clean energy. In the wake of the corporate shake-up, AGL has today announced a partnership to establish a $2 billion 'Energy Transition Investment Partnership' investment fund with Global Infrastructure Partners.

Read More: https://www.businessnewsaustralia.com/articles/cannon-brookes-looking-to-thwart-agl-s-demerger-plans-after-buying-stake-in-energy-company.html



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