Chow Tai Fook adds Aussie power firm to property, jewellery
HK conglomerate agrees to acquire Alinta Energy Holdings in multi-billion dollar transaction
Melbourne
CHOW Tai Fook Enterprises Ltd, the Hong Kong conglomerate known for its chain of jewellery shops across China, agreed to acquire Alinta Energy Holdings Ltd in a multi-billion dollar deal that marks the family-owned group's foray into Australian utilities.
The companies announced the transaction in separate statements on Thursday, without disclosing financial details. Chow Tai Fook agreed to pay investors including buyout firm TPG Capital more than A$4 billion (S$4.3 billion), people with knowledge of the matter said, asking not to be identified because the details are private. Alinta's assets span nationwide energy retailing through power generation for industrial customers.
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