Hong Kong's CLP seeks 'long-term' partner for EnergyAustralia unit (updated)
19/06/2023 09:30
(Recasts throughout to include CLP Holdings comments)
June 19 (Reuters) - Hong Kong-based investment firm CLP
Holdings 0002.HK said on Monday it was looking for a long-term
partner in Australia to jointly invest in clean energy
opportunities after local media reported Macquarie Group
MQG.AX was in talks to buy a big chunk of CLP's local unit.
The Australian Financial Review earlier reported investment
bank Macquarie could be the front-runner in buying an up to 50%
stake in electricity and gas supplier EnergyAustralia.
CLP Holdings was in talks to finalise the deal with
Macquarie but was also continuing talks with other interested
parties, the AFR article stated, citing sources close to the
discussions.
CLP Holdings in an emailed response to Reuters did not
comment on the article or confirm if it was in talks with
Macquarie or any other interested parties for the stake sale.
"CLP remains committed to participating in the energy
transition in Australia... including finding a long-term
committed partner to jointly invest in opportunities arising
from the energy transition," the company said.
"At this stage, the company is continuing to explore all
options and there is no certainty that a transaction will
materialise or, if it (does), be completed."
EnergyAustralia declined to comment on a request for
confirmation, while Macquarie did not immediately respond.
EnergyAustralia is one of the country's biggest electricity
and gas suppliers after AGL Energy AGL.AX and Origin Energy
ORG.AX . It is also the third-largest carbon-polluting power
producer in the country.
In fiscal 2022, EnergyAustralia recorded an operating loss
of HK$5.27 billion ($673.71 million) due to multiple weather
events in the country and the impact of the Russia-Ukraine war
on coal and gas prices.
($1 = 7.8223 Hong Kong dollars)
(Reporting by Sameer Manekar in Bengaluru; Editing by Janane
Venkatraman and Shailesh Kuber)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))