The Perth-based company last night issued a statement about its relationship with Macquarie Bank, saying it remains “cordial”.

“Macquarie has been a long-term advisor to Alinta during a period in which very significant shareholder value has been created,” Alinta said.

“Relations between the two companies continue to be cordial as these issues are resolved.”

Alinta terminated any future advisory work from Macquarie on Tuesday after the bank said it would handle a $6 billion MBO proposal led by former chief executive Bob Browning and former chairman John Poynton.

Browning and Poynton both resigned from their roles at Alinta last week amid concerns over their involvement in the buyout group.

Alinta said Macquarie could only continue to advise the executives preparing an MBO if certain conditions were met.

“Alinta intends to ensure that there is a fair and transparent process for all parties interested in bidding for the company,” it said.

“Alinta believes that it is in the shareholder interests for Macquarie to be eligible to participate in bidding for the company.

“Consistent with the above, Alinta and Macquarie are negotiating terms which would enable Macquarie to proceed with the management buyout group.”

It said another announcement to the market would be made once those arrangements have been concluded.