<p><strong>AMP Capital, Macquarie Capital Group and DUET Group have agreed to internalise the management of energy utility assets investor DUET, which has (up until now) been managed as a joint venture.</strong></p>
<p>Under the proposal the consideration payable to AMP Capital will be $41 million, which will be used to subscribe for DUET stapled securities, AMP Capital stated. </p>
<p>AMP Capital and Macquarie will provide support to DUET in its transition to independent management up to 30 June 2013, for a separate fee.</p>
<p>"Since DUET listed on the ASX in 2004 it has grown and developed into a significant infrastructure investment vehicle, and today it holds a diverse portfolio of energy utility assets in Australia," said AMP Capital Managing Director Stephen Dunne.</p>
<p>The proposal still requires a minimum of 50 per cent approval by DUET securityholders, with voting to take place at a general meeting, likely in late October, AMP Capital stated.</p>
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