Marubeni-Led Group to Buy Temasek Power Firm

Tokyo, Sept. 5 (Jiji Press)–A consortium led by Marubeni Corp. will acquire Singapore’s Senoko Power Ltd., a unit of Temasek Holdings Pte. Ltd., the Japanese trading house said Friday.

The consortium will pay some 300 billion yen for Senoko, said Temasek, an investment arm of the Singapore government.

Senoko Power will be owned 30 pct each by Marubeni and French utility company GDF Suez S.A., 15 pct each by Kansai Electric Power Co. and Kyushu Electric Power Co. and 10 pct by the Japan Bank for International Cooperation.

Senoko Power, which provides some 30 pct of Singapore’s electricity supply, is the second of three power firms to be sold by Temasek under its plan announced last year.END

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