S'pore Power completes sale of Australian stakes
19.9% in SP AusNet, 60% in SPIAA sold to a unit of China's State Grid
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Singapore
SINGAPORE Power subsidiary Singapore Power International (SPI) has completed two landmark deals - earlier estimated to be worth a total of more than A$5 billion (S$5.63 billion) - for the sale of equity stakes in SP AusNet and SPI (Australia) Assets (SPIAA) to a unit of State Grid Corporation of China (SGCC).
Announcing the close of the transactions yesterday - seven months after they were first disclosed - SP said it remained a committed long-term investor in Australia's electricity and gas transmission and distribution network.
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