ACCC not to intervene in China Light & Power's proposed energy acquisition.

0 Comments | M2 Presswire, March, 2005

M2 PRESSWIRE-30 March 2005-AUSTRALIAN COMPETITION AND CONSUMER COMMISSION: ACCC not to intervene in China Light & Power's proposed energy acquisition(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:30032005 The Australian Competition and Consumer Commission will not intervene in China Light & Power's proposed acquisition of the Australian non-regulated energy assets of Singapore Power, ACCC Chairman, Mr Graeme Samuel, said today.

The assets being sold or assigned by Singapore Power include the TXU retail business, a long-term lease over the Torrens Island Power Stations in South Australia, a one-third interest in the SEAGas pipeline, the Western Underground Gas Storage facility located near Port Campbell, and the long-term Master Hedge Agreement with Ecogen Energy...