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3 December 2007 - Tata Power Co Ltd, the country's oldest power utility, is eyeing a bid for Singapore electricity companies Tuas Power, PowerSeraya and Senoko, the Times of India reported on Monday.
Singapore's state investor Temasek Holdings is selling its interests in the three firms and Tata was "evaluating the opportunity", the paper cited a Tata group source as saying.
A spokeswoman for Tata Power did not immediately return a call seeking comment.
Temasek kicked off its sale of the three firms in October and said it expected to receive indicative offers for Tuas Power by the end of the year. It expects to sell the three firms by late 2008 as part of plans to liberalise Singapore's energy market.
The three firms have a book value of about S$1bn (US$690.6m) each, and analysts say the sales could fetch as much as S$9bn, with Tuas attracting the most investor interest.
Besides Tata Power, Hyderabad-based GMR group is also bidding for Tuas in a consortium that includes Macquarie, and diversified Anil Dhirubani Ambani group is also eyeing the offer, the paper said, without citing any sources.
Other companies that have shown interest in the deal include Hong Kong's China Light & Power, Hongkong Electric, Japan's Marubeni and Singapore's state-linked Keppel Corp and SembCorp Industries.
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