Hastings-led group pays $7.5 bln for Australian electricity network

November 24, 2015 11:04 PM

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SYDNEY Nov 25 An international consortium led by Hastings Funds Management will pay A$10.26 billion ($7.46 bln) for an Australian electricity network, part of the country's biggest ever privatisation program, the New South Wales state government said on Wednesday.

Hastings, owned by Westpac Banking Corp, teamed up with Australian electricity firm Spark Infrastructure, sovereign fund Abu Dhabi Investment Authority, Kuwait's Wren House Infrastructure and Canadian pension fund investor Caisse de depot et placement du Quebec for the winning bid for electricity tr...

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