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CLP Holdings, producer of electricity in six Asian economies, has received "a number" of approaches this year from companies interested in its TRUenergy unit in Australia, Melbourne-based TRUenergy said.
Kate Shea, a spokeswoman for TRUenergy, said yesterday there were no discussions ongoing with any party.
Origin Energy, Australia's second-biggest electricity and gas retailer, has been in talks throughout the year with Hong Kong-based CLP about a possible A$5 billion ($4.4 billion) acquisition of TRUenergy, the Australian Financial Review said yesterday. It's unlikely any deal would take place before the privatisation of the New South Wales state-owned power industry, it said.
TRUenergy said in September it plans to bid in the expected sale of New South Wales electricity assets as its Hong Kong parent seeks to expand the business in advance of a potential initial share sale in Australia.
The acquisition of a New South Wales electricity retailer, and possibly also a power generator, would expand TRUenergy to a scale at which it would look more keenly at an IPO, Richard McIndoe, managing director of the Australian unit, said on September 10.
"TRUenergy welcomes the NSW government's decision to privatise its electricity sector and looks forward to more specific details on how it proposes to package the retail and generation assets for sale and lease respectively," Shea said yesterday.
TRUenergy also said its coal-fired Yallourn power station was operational again after coal supply problems.
