Hong Kong billionaire Henry Cheng’s Chow Tai Fook Enterprises Ltd. has hired advisers as it considers options for Alinta Energy Pty, according to people familiar with the matter.
Bloomberg
The deliberations include possibly selling a stake in the Australian electricity supplier, the people said, asking not to be identified discussing private information.
“The company is exploring cooperation and co-investment opportunities with potential partners,” an Alinta Energy spokesperson said in response to a query from Bloomberg News, adding that opportunities are always being considered to support growth, including investment in renewable energy projects.
Discussions are at an early stage and there is no certainty that a transaction will take place, the spokesperson said.
Chow Tai Fook bought Alinta Energy, which has over 1 million customers in Australia and New Zealand, for about A$4 billion ($2.5 billion) in 2017, marking one of its most ambitious overseas expansions. It sold the company’s assets in Western Australia’s Pilbara region to APA Group for A$1.7 billion including debt in 2023.
Cheng has a net worth of $18.9 billion, according to the Bloomberg Billionaires Index. Listed entities that his family controls include Hong Kong-based New World Development Co. and jewelry retailer Chow Tai Fook Jewellery Group Ltd.
