Malaysia’s YTL Power is set to sell its 33.5 per cent stake in South Australia’s ElectraNet to its co-investors.
Malaysia’s YTL Power has lined up a buyer for its 33.5 per cent stake in South Australian electricity transmission network company ElectraNet.
The expected deal comes after YTL had Australia’s Luminis Partners and affiliate Evercore run an auction,The consortium had pre-emptive rights under the ElectraNet shareholders’ agreement, and is understood to have won the day. YTL Power had a 33.5 per cent stake in ElectraNet, while China’s State Grid owned 46.6 per cent and Australian Utilities Pty Ltd had the remaining 19.9 per cent.
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