clp

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

The Hong Kong electricity company adds a 15-year portion in response to reverse enquiries, raising a total of $600 million.

Hong Kong''s largest power group buys some of the assets it missed out on first time round, when Singapore Power bought TXU''s Australian business last year.

Hong Kong''s dominant electricity supplier sets an exceptionally tight benchmark for itself.

Presentations begin on Monday for a $300 million 10-year 144a issue.