Google+ Followers

Monday, 1 May 2017

Two consortiums lodge final bids for Australia's Endeavour Energy: sources | Reuters

Two consortiums lodge final bids for Australia's Endeavour Energy: sources | Reuters:

"Australian state-owned power grid Endeavour Energy has attracted final bids from two consortiums comprised of local and foreign investors, and a decision on the expected A$4 billion ($2.99 billion) deal could come within a week, sources said.

The offers from consortiums led by Macquarie Group (MQG.AX) and Hastings Funds Management for a majority stake in the utility are binding and follow weeks of due diligence, according to two sources involved in the process.

Endeavour is being sold by New South Wales state as part of a broader privatization program to fund infrastructure development, at a time when foreign investment in sensitive assets like power grids and ports is facing increased scrutiny on national security grounds.

"



'via Blog this'
<