More than a year has passed since Singapore Power mandated Goldman Sachs to sell its 40 per cent stake in gas and electricity distribution giant Jemena. And now, it looks like the whole thing has been “paused”.
At least, that’s the disclosure in documents circulated by the subsidiary of Singapore’s state investment firm Temasek as part of an $S10 billion ($11.4 billion) debt issuance. The stake is worth between $6 billion and $9 billion.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com