Tuesday, 2 July 2013

Malakoff buys 50pc of Australian wind farm for RM382 million

Malakoff, a subsidiary of MMC Corp , will spend A$130m (about RM382m) to acquire a 50% stake in an Australian wind farm from New Zealand's Meridian Energy . The deal comes with an enterprise value of A$659m, which includes non-recourse project debt of A$529m, as Malakoff seeks to build up its asset base ahead of a possible re-listing in the second half of next year.

Following the deal, Malakoff, becomes an equal partner in the Macarthur wind farm with Australian firm AGL Energy Limited which is the operator. "It will be our first foray into the Australian renewable energy sector with this large-scale wind project," said Zainal Abidin Jalil, chief executive officer of Malakoff, said. (Reuters)

Source: CIMB Daybreak - 02 July 2013

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