ByYessar Rosendar,
Forbes Staff.
Chow Tai Fook Enterprises—controlled by Hong Kong’s billionaire Cheng family—announced Thursday that it has agreed to sell Australian power company Alinta Energy to Singapore’s Sembcorp Industries in a deal valued at A$6.5 billion ($4.3 billion).
Singapore-listed Sembcorp will buy all the shares of Alinta from Chow Tai Fook Enterprises, according to joint-statement released on Thursday. The deal is subject to regulatory approval and is expected to be completed in the first half of 2026.
“Our eight-year investment in Alinta has played an important role in providing reliable and affordable energy to Australians,” Henry Cheng, chairman of Chow Tai Fook Group said in the statement. “I am immensely proud of what the Chow Tai Fook Enterprises and Alinta teams have accomplished on the energy transition journey”.
