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Home» About Macquarie Group» News & announcements» Archive 2007» Alinta

News & announcements

Alinta

21 January 2007

In response to speculative statements in the press regarding Macquarie’s role in relation to Alinta, Macquarie makes the following statement.

Macquarie takes its responsibility to its clients seriously and has always acted in the best interests of Alinta.

Macquarie was first contacted by the Chairman of Alinta, John Poynton, on January 2, 2007, requesting its involvement in advising an MBO Group. Macquarie was advised that this request followed an unsuccessful attempt by the MBO Group under advice from another investment bank.

Macquarie was advised that the Alinta Independent Directors had been aware of the Management Buy Out (“MBO”) proposal for some time and were receiving independent advice on the MBO proposal from Carnegie Wylie & Company and JP Morgan & Co.

After being advised of the MBO proposal, Macquarie recognised the potential conflicts of interest. In accordance with the Bank's strict compliance protocols, Macquarie executives sought legal advice in relation to all aspects of Macquarie’s possible involvement with the MBO proposal including potential conflicts of interest.

Macquarie has always made clear that it would not progress any proposal to Alinta in connection with the MBO other than on a friendly basis, with the agreement of the Alinta Independent Directors and in accordance with appropriate protocols agreed with the Alinta Independent Directors. Macquarie has always believed, and continues to believe, that the potential conflicts of interest are capable of being appropriately managed with the informed consent of the Alinta Independent Directors.

Until protocols have been agreed between the two parties, Macquarie will not have a role. This is consistent with Macquarie’s position from the outset.

Macquarie believes it has acted carefully and entirely appropriately in relation to managing any conflicts and communicating with the Alinta Independent Directors.

Alinta has publicly confirmed its wish to continue to work with Macquarie to resolve any potential issues.

For more information, please contact:

Lisa Jamieson
Public Relations
Macquarie Bank Limited
Tel: (612) 8232 6016
Mobile: 0416 237 332

Matthew Russell
Public Relations
Macquarie Bank Limited
Tel: (612) 8232 4102
Mobile: (614) 1069 9532

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