Hong Kong's CLP mulls offloading EnergyAustralia unit - Bloomberg News
23/02/2022 11:30
Feb 23 (Reuters) - Hong Kong's power company CLP Holdings
0002.HK is contemplating to offload its EnergyAustralia retail
business, Bloomberg News reported on Wednesday, citing people
familiar with the matter.
The power company has reached out to potential bidders to
gauge interest and is working with a financial adviser on the
proposed divestment of the energy retailer, which could be
valued at about $2 billion, according to the report.
The proposed divestment talks are at an early stage and CLP
may decide to keep the business, the report added.
CLP Holdings did not immediately respond to a Reuters
request for comment.
Melbourne-based EnergyAustralia, which was acquired by the
Hong Kong utility in 2011, supplies electricity and gas to about
2.44 million customers across Australia.
(Reporting by Riya Sharma in Bengaluru; Editing by Anil
D'Silva)
((Riya.Sharma@thomsonreuters.com;))