Singapore's Sembcorp Industries completes A$6.5 billion acquisition of Alinta Energy

en.Wedoany.com Reported - Sembcorp Industries has completed the acquisition of Australian energy company Alinta Energy for approximately A$6.5 billion (about RMB 30.947 billion).

Sembcorp announced after the market closed on Thursday (June 11) that its wholly-owned Australian subsidiary has completed the acquisition of shares in Pioneer Sail Holdings and Latrobe Valley Power (Holdings), thereby fully acquiring 100% of Alinta Energy from Hong Kong's Chow Tai Fook Enterprises.

With the completion of the transaction, Sembcorp will integrate Alinta's 3.4 GW operating portfolio and 10.4 GW project pipeline under development into its scalable integrated energy solutions platform in Australia.

Alinta will continue to operate under its existing brand and operational structure to ensure business continuity. The company currently has over 1,000 employees and approximately 1.1 million customers and partners in Australia.

The existing management team will also be retained, led by Managing Director and President Jeff Dimery.

Chen Guanghong, President of Sembcorp Industries' Eastern Renewable Energy division, who is responsible for managing this new business portfolio, said the acquisition is an important step in advancing the growth strategy, further solidifying Australia's position as a key market for Sembcorp.

Sembcorp Industries currently has an energy portfolio with a total installed capacity of 35.2 GW across 12 countries globally, of which renewable energy installed capacity accounts for 21.9 GW.

Prior to the announcement, Sembcorp's shares closed at S$6.13, unchanged.

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