Oz AGL Closes Takeover of Click Energy

Australian energy group AGL Energy has closed the A$115mn ($82mn) takeover of gas and power retailer Click Energy Group Holdings, it reported on September 30.

Click, formerly a subsidiary of ASX-listed Amaysim Australia, supplies 215,000 customers across New South Wales, Victoria, Queensland and South Australia. With the acquisition, AGL has increased its energy and telecommunications customer service base to 4.2mn. It is striving to increase this to 4.5mn by 2024.

"We have continued to grow and transform our business by digitalising our customer experience and offering more choice and flexibility on our products," AGL CEO Brett Redman said. "This acquisition aligns with our growth strategy and builds on our recent acquisitions of Perth Energy and Southern Phone Company."

AGL reached the deal to buy Click in late August. The transaction was closed on schedule and was funded using AGL's existing debt facilities.