Sembcorp, the Singapore-listed energy group majority owned by Temasek, has confirmed media reports that it is in talks to take over Australian electricity and gas retailer Alinta Energy.
Media reports suggest the deal is expected to to worth A$4.3bn (€2.5bn).
Chow Tai Fook, controlled by Hong Kong billionaire Henry Cheng, paid A$5.2bn for Alinta Energy in 2017. It subsequently sold Alinta’s West Australian assets for around A$1.8bn.
Sembcorp has about 27GW of energy production across the globe, including gas, wind, solar, hydro and battery projects in six countries, including China, India and Indonesia, outside its home market.
Sembcorp said it is “currently considering potential acquisition opportunities, which include Alinta Energy and are in current discussions with the relevant parties”.
“Sembcorp wishes to emphasise that the discussions are still ongoing. No definitive transaction in respect of the potential acquisition has been entered into by Sembcorp with any party, and there is no certainty that any such transaction will materialise.”
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