Processing timeline
29
days
Acquirer(s)
Sembcorp Industries Ltd SG1R50925390 (Singapore ISIN Code)
Target(s) or Vendor(s)
Pioneer Sail Holdings Pty Limited ABN - 45 617 844 569
Other parties
None listed
Singapore-headquartered Sembcorp Industries Ltd will acquire 100% of Australian "gentailer" Alinta Energy Ltd and its subsidiaries, including Latrobe Valley Power, via a share sale. Alinta Energy supplies electricity and gas, operating coal, gas, wind, and solar generation assets, including the Loy Yang B power station.
Sembcorp Industries Ltd ( Sembcorp ) proposes to acquire, via share sale agreement, 100% of Pioneer Sail Holdings Pty Limited and its subsidiaries including Alinta Energy Ltd ( Alinta Energy ) and Latrobe Valley Power (Holdings) Pty Ltd ( Latrobe Valley Power ), which operates the Loy Yang B coal-fired power station (together, the Target Group ). Sembcorp is an energy, renewable and industrial solutions company headquartered in Singapore with renewable energy and gas assets in the wider Asia region. Sembcorp does not own any operating assets in Australia, nor have any minority or controlling interests in any entities active in the energy sector in Australia. Alinta Energy is an Australian "gentailer" which supplies electricity and gas to customers across Australia. It has over 3.4GW of installed and contracted generation assets comprising coal, gas, onshore wind and solar and a development pipeline of up to 10.4GW of renewable energy projects. The Loy Yang B power station is a baseload brown coal fired power generator located 160km east of Melbourne which supplies electricity into the National Electricity Market. The Target Group also has joint venture interests in the Yandin Wind Farm and Spinifex Offshore Wind Project, which is currently in the planning and development phase. Temasek is the largest shareholder of Sembcorp. Temasek has interests in a variety of industries globally, including financial services, telecommunications, transportation, and real estate and is headquartered in Singapore. Temasek wholly-owns Singapore Power Group, an electricity and gas distribution company, which through its subsidiary Singapore Power International has an indirect interest in SGSP Australia Assets Pty Ltd ( SGSPAA ). SGSPAA owns Jemena, which is the owner and operator of gas distribution and transmission and electricity distribution network assets on the east coast of Australia and has interests in three electricity distribution networks located in New South Wales, Victoria and the Australian Capital Territory. Temasek also has an interest in Neoen SA ( Neoen ), a France-headquartered global developer, constructor, financier, and operator of renewable energy assets. Neoen owns and/or operates a number of wind, solar and energy storage projects in New South Wales, Queensland, South Australia, Tasmania, and Western Australia.