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AGL Energy Limited (ASX:AGK) planned purchase of the Loy Yang power station in Victoria, from Japan’s Tepco, has hit a hurdle.
The Australian Competition and Consumer Commission (ACCC) has suspended its clearance process until AGL provides it with more information.
The ACCC has asked AGL to provide the information by April 18, 2012.
AGL has a 32.5 per cent stake in Loy Yang and said in February it will raise $1.5 billion to partially finance the 100 per cent purchase of the power station.
AGL’s first half net profit fell more than 50 per cent to $117 million in the last six months of 2011.