Jemena

Infobox Company
name = Jemena Limited

type = Energy distribution and network management
foundation = As AlintaGas Ltd - Jan 1995
location = flagicon|AUS Melbourne, Victoria, Australia
key_people = John Akehurst, Chairman
Peter Magarry, CEO
industry = Energy
products = Gas
revenue = profit $1.48 billion AUD (2006, [http://www.alinta.net.au/investor/companyReports/annualReports/2006AnnualReport.pdf] )
net_income = profit $0.17 billion AUD (2006, [http://www.alinta.net.au/investor/companyReports/annualReports/2006AnnualReport.pdf] )
num_employees = ~3200
homepage = [http://www.jemena.com.au/ www.jemena.com.au]

Jemena is an Australian energy infrastructure company. It has grown from a small, Western Australia based gas distributor and retailer to the largest energy infrastructure company in Australia. It has become known for its aggressive approach to growth through acquisition and financial engineering.Fact|date=February 2007 It is owned by a consortium including Singapore Power and various Babcock & Brown funds. [cite press release |title=Alinta Scheme Implemented |url=http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00755054 |publisher=ASX |accessdate=2007-09-05 |date=2007-08-31]

History

It was formed as AlintaGas in January 1995 when the vertical monopolist energy supplier, the State Energy Commission of Western Australia, was disaggregated into separate gas and electricity corporations. On 13 July 2000 legislation was passed by the Government of Western Australia for the sale of AlintaGas which subsequently listed on the Australian Stock Exchange (ASX) on 17 October 2000.

On 8 May 2003 AlintaGas Ltd officially changed its name to Alinta Limited. The word Alinta is derived from the word for fire in a traditional language of an Aboriginal tribe from Victoria.

Alinta acquired infrastructure assets and the "Agility" business from AGL through a combination of merger and demerger transactions on 25 October 2006. [cite web |url=http://www.ato.gov.au/print.asp?doc=/content/82341.htm |publisher=Australian Taxation Office |title=Alinta Ltd merger with the Australian Gas Light Company (AGL) - October 2006 |date=2007-01-18 |accessdate=2007-01-31]

The company was eventually acquired by a consortium between Australia's second-largest investment bank, Babcock & Brown, and Singapore Power, the largest utility company in the city-state. [cite news |first = |last = |title = Australia's Alinta recommends US$6b bid by Babcock, Singapore Power |url = http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/267365/1/.html |publisher = Channel NewsAsia |date = 30 March 2007 ] after putting up a bid of A$13.9 billion, beating out a rival bid by Macquarie Bank. [cite news |first = |last = |title = SingPower group in $17b buyout of Aussie firm |url = |publisher = The Straits Times |date = 30 March 2007 ]

On 4 August 2008, the company name changed from Alinta to Jemena, an Aboriginal word that means "to hear, listen and think". [ [http://www.jemena.com.au/company/OurNewBrand/default.aspx#4 About Our New Brand] , Jemena company]

Assets

Jemena's main assets and activities are:
* Jemena's asset management business in the eastern states (excluding Alinta Asset Management Pty Ltd)
* Jemena Asset Management Pty Ltd (49%)
* Queensland Gas Pipeline
* Eastern Gas Pipeline, NSW
* VicHub, Victoria
* NSW gas distribution network (JGN Ltd)
* ActewAGL gas distribution network, ACT (50%)
* ActewAGL electricity network, ACT (50%)
* United Energy Distribution, Victoria (electricity distribution) (34%)
* JEN, Victoria (electricity distribution)

References

ee also

* Western Power
* Alinta

External links