Sydney (AFP) – An Australia-led consortium of investment funds from Canada and the Middle East won the bid for electricity transmission network TransGrid Wednesday, beating a Chinese challenger in a deal worth Aus$10 billion (US$7.3 billion).
China’s State Grid was considered a frontrunner but the New South Wales state government said the strongest bid belonged to the locally led NSW Electricity Networks consortium.
“The transaction will deliver gross proceeds of Aus$10.258 billion which will help fund a raft of infrastructure projects across the state,” NSW Premier Mike Baird said in a statement. For the full article click here
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