Macquarie front-runner to buy up to 50% stake in EnergyAustralia - AFR
19/06/2023 04:26
June 19 (Reuters) - Australian investment bank Macquarie
Group MQG.AX could be the front-runner to buy an up to 50%
stake in electricity and gas supplier EnergyAustralia, the
Australian Financial Review reported on Monday citing sources
close to talks.
Hong Kong-based investment firm CLP Holdings 0002.HK ,
which owns EnergyAustralia, was in discussions to finalise the
deal with Macquarie but was also continuing talks with other
interested parties, the AFR article stated without disclosing
any further details.
EnergyAustralia declined to comment on a Reuters request for
confirmation, while Macquarie and CLP Holdings 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) as multiple weather events
in the country and the impact of the Russia-Ukraine war on coal
and gas prices negatively affected it.
($1 = 7.8223 Hong Kong dollars)
(Reporting by Sameer Manekar in Bengaluru; Editing by Janane
Venkatraman)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))