YTL Power completes acquisition


YTL Power managing director Datuk Yeoh Seok Hong said Tuaspring’s combined cycle power station would complement the group’s existing power generation assets in Singapore.

PETALING JAYA: YTL Power International Bhd has completed the acquisition of Singapore’s Tuaspring Pte Ltd’s 396MW combined cycle gas turbine power plant.

In a statement, YTL Power said the acquisition was done through its wholly-owned subsidiary, YTL PowerSeraya Pte Ltd.

The international multi-utility group also said the original purchase consideration of S$331.45mil (RM1.06bil), which was to be settled via a combination of cash, together with shares and shareholder loans in YTL PowerSeraya, was reduced to a purely cash consideration of S$270mil (RM861mil) on completion.

YTL Power managing director Datuk Yeoh Seok Hong said Tuaspring’s combined cycle power station would complement the group’s existing power generation assets in Singapore. — Agencies

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