Australian grid receives "strong" indicative bid

February 29, 2016 7:32 AM

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SYDNEY Feb 29 The sale process for Australian electricity distributor Ausgrid has received "strong" indicative bids and the government of New South Wales (NSW) state is on track to announce a winner by mid-2016, state Treasurer Gladys Berejiklian said on Monday.

The sale of a 50.4 percent stake in Ausgrid could help the NSW state government raise more than A$10 billion ($7.1 billion), sources familiar with the matter said.

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