Sembcorp Industries is mulling the acquisition of an Australian energy supplier as it seeks to boost its shareholder value through potential buys.
The Singapore-based energy solutions provider said Monday that it is in discussions with relevant parties for some acquisition opportunities, including Alinta Energy.
No definitive transaction has been entered into by Sembcorp, and there is no certainty that any such transaction will materialize, Sembcorp Industries said.
The potential deal was earlier reported by Australian media.
Alinta Energy is one of Australia's largest energy retailers, according to its website. It is owned by Hong Kong's Chow Tai Fook Enterprises, which is part of the privately-held Chow Tai Fook conglomerate.
Part of Alinta's assets were sold to Australian energy infrastructure company APA Group in 2023 at an enterprise value of 1.72 billion Australia dollars, equivalent to US$1.14 billion.
Shares of Sembcorp were recently 1.8% lower at 5.88 Singapore dollars, equivalent to US$4.54, after the disclosure.
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