Search

Hong Kong group buys Alinta in $4bn deal

Western Australia's biggest gas retailer, Alinta Energy, has been bought by a Hong Kong jewellery and property conglomerate, with Premier-elect Mark McGowan saying the deal confirmed his opposition to privatisation.

Chow Tai Fook Enterprises Limited - a private Hong Kong-based holding company owned and controlled by billionaire Dato' Dr Cheng Yu-tung's family - has agreed to buy the gas and electricity supplier in a deal believed to be worth around $4 billion.

The sale came as a surprise to the market, as Alinta's private equity owners had been working on an IPO that appeared to be progressing well.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Register for free

Sign up here for free access to 7 articles per month + twice daily business email alerts.

CAPTCHA
Thanks! This question prevents spammers...
Image CAPTCHA
Enter the characters shown in the image.

Add your comment

BNiQ Disclaimer