marubeni-consortium-wins-senoko-auction

Marubeni consortium wins Senoko auction

The consortium will pay $2.77 billion to buy Singapore power generator Senoko Power from Temasek.
A Marubeni-led consortium has emerged as the winner of an auction for SingaporeÆs largest power generating company Senoko Power, at an enterprise value of S$3.97 billion $2.77 billion.

The consortium, named Lion Power, includes JapanÆs Marubeni Corporation with a 30% stake, French firm GDF Suez with 30%, JapanÆs Kansai Electric Power and Kyushu Electric Power with 15% each, and the Japan Bank for International Cooperation with 10%. It was advised by Macquarie.

Temasek will be paid S$3.65 billion in cash and the consortium will take on S$323 million of debt on SenokoÆs books. The deal, on which Temasek was advised by Credit Suisse and Morgan Stanley, will be completed by September 12.

Senoko Power...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222