Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion).
Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units as well as Latrobe Valley Power (LVP) and its subsidiaries from Pioneer Sail Holdings, which is owned by CTFE and Pioneer Sail Singapore, according to Sembcorp’s filing with the Singapore stock…
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