SGX buys rest of EMC, plans electricity futures
It acquires remaining 51% for S$23m
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
SINGAPORE Exchange (SGX) has acquired the rest of electricity market operator Energy Market Co (EMC) for S$23 million in cash as it marches towards its goal of creating electricity and energy futures.
SGX acquired the remaining 51 per cent of EMC from the Energy Market Authority of Singapore, two years after buying an initial 49 per cent stake for S$17.6 million plus a conditional S$2 million.
The deal is not expected to have any material impact on SGX's net tangible assets and earnings for the year ending June 2015.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
