May 23, 2018 / 11:36 PM / a month ago

Australia's Origin Energy to sell metering business for $203 mln

May 24 (Reuters) - Australian energy retailer Origin Energy Ltd said on Thursday it has agreed to sell its metering business, Acumen, for A$267 mln ($202.07 mln) to intelliHUB, a company to be jointly owned by Pacific Equity Partners and Landis+Gyr.

The company said it had committed to a long-term agreement with Acumen for the management of digital meters of Origin’s electricity customers.

The sale is expected to complete by June 30, Origin said in a statement. ($1 = 1.3214 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Muralikumar Anantharaman)

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