By Reuters Staff2 Min ReadSYDNEY (Reuters) – AGL Energy Ltd might launch a strategic evaluation as early as Monday as doubts develop over the Australian energy producer’s plans to separate into two firms, the Australian newspaper reported.FILE PHOTO: The emblem of AGL Energy Ltd, Australia’s no.2 energy retailer, adorns the constructing of their head workplace in Sydney, Australia, February 8, 2017. Picture taken February 8, 2017. REUTERS/David Gray/File PhotoAGL was mulling its choices on Sunday amid market hypothesis that breaking the corporate into retail and era models could lack the shareholder assist to go forward, the newspaper stated.AGL didn’t instantly reply to a Reuters request for remark.One possibility was to launch a strategic evaluation that would increase the probabilities of AGL being offered off, the Australian reported, citing unnamed sources.AGL’s board was to satisfy on Sunday afternoon to find out subsequent steps, with a choice potential on Monday, the report stated.Shareholders are set to vote on June 15 on AGL’s demerger plan. The cut up would kind AGL Australia, which might be the nation’s high power retailer, and Accel Energy, the nation’s high energy producer.Technology billionaire Mike Cannon-Brookes indicated on Friday he would search two seats on AGL’s board if the plan to separate the corporate failed.In a letter addressed to AGL Chair Peter Botten, Cannon-Brookes criticised the demerger plan and expressed his intention to nominate two nominees for Grok Ventures – a car he owns – to the AGL board.Cannon-Brookes, the co-chief govt of software program agency Atlassian and a vocal local weather activist, gained an 11.3% stake in AGL this month by changing a part of his derivatives-based holding within the firm. He failed in a takeover try with Brookfield Asset Management earlier this yr.Australian pension fund HESTA beforehand joined the tech billionaire in opposing the demerger, saying it didn’t see the cut up supporting decarbonisation targets laid out by the Paris local weather settlement.Accel, if the demerger goes forward, will inherit AGL’s coal-fired energy vegetation and the mantle of Australia’s largest carbon emitter, in line with authorities knowledge.Reporting by Samuel McKeith; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
