DEMERGER BENEFITS

AGL Energy has released the scheme booklet detailing the benefits of its demerger, with an independent expert’s report concluding the company split is in the best interests of shareholders.

The expert’s report from Grant Samuel pointed to a string of “nontrivial” disadvantages, costs and risk from the demerger but said investors on balance would be better off by dividing the company’s retail and power generation assets into two separately listed businesses. Billionaire Mike Cannon-Brookes (pictured) has an 11.28 per cent stake in AGL and is lobbying against the proposed demerger.