Temasek has hired Goldman Sachs to find a buyer for its unit Singapore Power’s 40% stake in Australian gas and electricity distributor Jemena, the Australian Financial Review reported on Wednesday.
Local media late last month reported that the sale of the stake owned by Singapore Power could be worth up to A$6 billion ($3.79 billion), valuing Jemena up to A$15 billion.
Jemena operates electricity and gas distribution infrastructure across Australia and is the biggest gas distributor in New South Wales, delivering gas to more than 1.5 million customers each year, according to its website.
Singapore state investment firm Temasek told Reuters it “won’t be able to comment on market speculation”.
Goldman declined to comment. Singapore Power did not respond to a Reuters request for comment, while Jemena could not be reached.
Reuters