CLP pays $1.8 billion for stakes in Exxon units

Exxon Mobil raises $3.4 billion by selling out of two units to HK utilities group CLP and China Southern Power Grid.

CLP pays $1.8 billion for stakes in Exxon units

Hong Kong utilities company CLP has agreed to buy stakes in two Exxon Mobil units for HK$14 billion $1.8 billion.

CLP, controlled by the wealthy Kadoorie family, will buy a 30% stake in Castle Peak Power, which owns three coal fired power stations in Hong Kong, for HK$12 billion, taking its ownership up to 70%.

China Southern Power Grid, a state-owned group, will buy the remaining 30% stake...

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