SOURCE: Industrial Info Resources

September 17, 2008 05:00 ET

Marubeni-Led Consortium Acquires Senoko Power for $2.5 Billion, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - September 17, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Lion Power, a consortium led by Marubeni Corporation (PINKSHEETS:MARUY) (Chiyoda, Tokyo), outbid five other firms to acquire Senoko Power Limited (Singapore), the largest power generation company in Singapore and a wholly owned subsidiary of state-owned investment company Temasek Holdings (Singapore). The consortium posted a bid value of 3.96 billion Singapore dollars (S$) ($2.5 billion) to acquire the 3,300-megawatt (MW) utility, which translates to a price of S$1.2 million ($768,634) per MW of generating capacity. The consortium comprises GDF Suez SA (EPA:GSZ) (Paris) and Marubeni with stakes of 30% each, Kansai Electric Power Corporation (TYO:9503) (Osaka, Osaka) and Kyushu Electric Power Corporation (TYO:9508) (Fukuoka, Japan) with stakes of 15% each, and the Japan Bank for International Cooperation holding the remaining stake of 10%.

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