Singapore Temasek shortlists 5 in sale of Senoko Power

Singapore Temasek shortlists 5 in sale of Senoko Power

HONG KONG - SINGAPORE investment company Temasek Holdings has shortlisted five bidders from preliminary bidding for its sale of Senoko Power, banking sources said.
France’s GDF Suez, Japan’s Marubeni, India’s Tata Power, Malaysia’s YTL Power and the OneEnergy tie-up between Hong Kong’s CLP Holdings and Japan’s Mitsubishi are the shortlisted bidders, bankers told Reuters Basis Point, in a deal that market players have said could fetch about US$3 billion (S$4 billion).

Other firms that were understood to have submitted non-binding expressions of interest last week included Bahrain investment bank Arcapita, Singapore’s Keppel Corp and Sembcorp Industries.

The shortlisted candidates will be allowed to conduct due diligence around September.

The Senoko sale, the second of three generating company divestments that Temasek plans by mid-2009, has sparked huge interest in the loan market with more than 10 banks earlier talking to would-be bidders about debt financing to back the acquisition.

With an electricity generating capacity of 3,300 megawatts (MW), Senoko is larger than Singapore’s 2,670 MW Tuas Power, which was sold to China’s Huaneng Group for $4.2 billion in March.

REUTERS

Source : Straits Times - 05 Aug 2008

Singapore Property - Buy, Sell, Rent, Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

Microsoft launches BizSpark to boost technology start-ups »« Singapore’s biggest employer still hiring