Alinta recommends Babcock & Brown A$15 a share bid

SYDNEY - Australian energy infrastructure group Alinta Ltd, which has put itself up for sale after receiving a management buyout offer, said on Friday it would recommend a bid by a consortium led by Australia's Babcock & Brown.

The Perth-based company said in a statement that the offer from Babcock, in partnership with Singapore Power, values Alinta at A$15 ($17.14) a share.

Babcock's offer was a mixture was of cash and shares, Alinta said.

Alinta has also had offer from investment firm Macquarie Bank Ltd.

- REUTERS