Business Services Industry
Hong Kong powers up in $2bn Vic deal.(China Light & Power)(Victoria)(Brief Article)
Australasian Business Intelligence, March, 2005
Mar 03, 2005 (The Australian Financial Review - ABIX via COMTEX)
It is believed that Hong Kong's China Light & Power (CLP) will spend $A2.2 billion for a stake in the Australian energy industry. CLP is completing negotiations to purchase the Victorian retail electricity and gas operations once owned by TXU and now controlled by Singapore Power. It will also pick up an underground gas storage facility in Victoria's west, 33.3 per cent of the SEA Gas Melbourne-Adelaide pipeline, and the Torrens Island power station in South Australia. The Australian Competition & Consumer Commission (ACCC) is likely to look into the deal. AGL withdrew from the auction of Singapore Power's assets because it did not think it could satisfy the ACCC.
Publication Date: 4...
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