Singapore Power hires Goldman Sachs for 40% stake sale in Aussie energy firm Jemena

SINGAPORE POWER has hired Goldman Sachs to find a buyer for its unit Singapore Power’s 40 per cent stake in Australian gas and electricity distributor Jemena, the Australian Financial Review reported on Wednesday (Oct 4).

Local media late last month reported that the stake sale could be worth up to A$6 billion (S$5.2 billion), valuing Jemena as high as A$15 billion.

Jemena operates electricity and gas distribution infrastructure across Australia and is the biggest gas distributor in New South Wales, delivering gas to more than 1.5 million customers each year, according to its website.

Goldman declined to comment. Singapore Power did not respond to a Reuters request for comment, while Jemena could not be reached.  REUTERS