re: Ann: CBD not to proceed with acquisition ... NEGATIVE...

re: Ann: CBD not to proceed with acquisition ...
NEGATIVE ENERGY

Impulse Airlines founder and now CBD Energy boss Gerry McGowan has landed himself in a spat over his alleged lack of disclosure standards.

On Tuesday, the solar and wind energy company announced to the ASX it had ''decided not to proceed'' with the $24.9 million acquisition of the energy retailer Neighbourhood Energy from Alinta Energy.

But yesterday, Alinta in a catty response said the deal had actually been ''terminated'' on Friday after CBD was ''unable to complete the acquisition in accordance with the terms of the executed sale agreement''. It also said other comments made by McGowan in the statement were ''incorrect''.

McGowan in reply said: ''CBD stands by what it has said and has no comment to make on Alinta's statement.'' There is the other issue of CBD making its statement two business days after the deal, according to Alinta, had been terminated



Read more: http://www.smh.com.au/business/exotic-dance-group-needs-a-bank-daddy-20111123-1nuzb.html#ixzz1eZVfJrbA