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Hong Kong's CLP mulls offloading EnergyAustralia unit - Bloomberg News

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Hong Kong's power company CLP Holdings 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 propo

Hong Kong's power company CLP Holdings 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.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.

 

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