Hong Kong group to buy Alinta Energy in $4bn deal

16 March 2017

Chow Tai Fook Enterprises (CTFE) announced it has agreed to buy gas and electricity retailer Alinta Energy for around $4bn, marking its first major foray into Australia’s energy sector.

The firm, controlled by Hong Kong’s billionaire Cheng family, said it had entered into a binding agreement to buy all of Alinta’s shares, subject to approval by Australia’s Foreign Investment Review Board (FIRB) and the newly established Critical Infrastructure Centre (CIC), tasked with vetting foreign investments in power grids and ports.

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