Alinta sale approved by FIRB

The Foreign Investment Review Board (FIRB) has approved the sale of Alinta Energy to Hong Kong-based Chow Tai Fook Enterprises (CTFE).

The majority of Alinta’s portfolio is managing and operating gas networks in Western Australia, and the FIRB’s approval was the last hurdle for CTFE.

Alinta Chief Executive Jeff Dimery said the deal will benefit customers.

“It will give us access to a greater amount of capital at a lower cost than we’ve had in the past, which means we can be more competitive with our investments,” said Mr Dimery.

The decision comes just days after the FIRB’s approval of Chueng Kong Infrastructure’s takeover bid for DUET, operator of the 1,596 km Dampier to Bunbury Natural Gas Pipeline in Western Australia.

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