YTL Power sells stake in ElectraNet for RM3.07bil


YTL Power group managing director Datuk Yeoh Seok Hong (pic) said the disposal allowed the company to realise gains from a mature investment, optimise the balance of assets in its business portfolio and increase the flexibility to deploy its cash reserves towards viable new ventures that complemented its existing businesses.

KUALA LUMPUR: YTL Power International Bhd has divested 33.5% of its stake in electricity transmission specialist ElectraNet Pty Ltd in Australia to Australian Utilities Pty Ltd as trustee of Australian Utilities Trust for A$1.02bil (RM3.07bil).

In a statement yesterday, YTL Power said it would realise a gain on disposal of RM2.21bil upon completion of the transaction.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

YTL Corp , Yeoh Seok Hong , Electra Net , stake , sells ,

   

Next In Business News

Oil sheds more than $1 as China data disappoints
Bursa Malaysia to launch voluntary carbon market exchange
Thai GDP notches fastest growth in a year on eased Covid curbs
Chinese developers in 'survival mode' slashes property investment
China stocks slip on slowdown fears despite surprise rate cuts
China unexpectedly cuts key rates as economic data disappoints
Blue chips continue to rise amid overall weaker market
Malaysia's semiconductor industry to benefit from Chips and Science Act
Buying interest boosts ringgit vs US$
Malaysia to achieve GDP growth of 5.3% to 6.3% this year

Others Also Read