Duet Group (DUE)

Shares / Stock Code

DUE

Stock Exchange / Sharemarket

ax

Duet Group (DUE) invests in a portfolio of energy utility assets mainly across Australia and New Zealand and it is basically a joint venture between Macquarie Bank Ltd and AMP Capital Investors. Duet encompasses two stapled registered managed investment schemes and one Australian public company. These include Diversified Utility and Energy Trust No.1 (DUET1), Diversified Utility and Energy Trust No.2 (DUET2), Diversified Utility and Energy Trust No.3 (DUET3) and DUET Investment Holdings Limited (DIHL). The primary focus of DUET1, DUET2, DUET3 and DIHL is on investing in energy utility assets that provide expected cash yield. Duet Group listed on the ASX on 13th August, 2004. DUET Group invests in funds according to the terms of the Trust Constitutions and the governing documents of the individual units within the DUET Group.

The company’s business segments include gas transmission, gas distribution and electricity distribution. AMPCI Macquarie Infrastructure Management No.1 Limited (RE1) is the responsible entity for DUET1. It also manages DIHL. DUET2 and DUET3 are managed by AMPCI Macquarie Infrastructure Management No.2 Limited (RE2). On May 31, 2007, DUE acquired a 28.9% shareholding in Duquesne Light Holdings (DLH). DUE aims at acquiring a portfolio of energy utility assets classified according to geographic region, regulatory regime, energy source and operator. The management team of DUE has deep expertise and wide experience in the energy utility sector, with its responsible entities having reach to the collective infrastructure knowledge and investment management resources of the Macquarie Group and the AMP Capital Group.

Duet Group History

DUET Group (DUE) was founded in July 2003. It became floated on the Australian Stock Exchange on 13th August 2004 having an issue price of $2.29. In November 2004, the Duet group and its associative partners jointly acquired the Dampier to Bunbury Pipeline (DBP) for value $2B. In December 2004, DUE accomplished its DBP capital raising by issuing 164.6M units at $2.42/security and raised $398.3M. It raised $155M by issuing 1.4M new POWERS units at $109.73/unit.