, Hong Kong

Chow Tai Fook Enterprises buys Australia's Alinta Energy

Alinta abandoned plans to list on the ASX for $4b.

According to ABC Online, Chow Tai Fook Enterprises Limited (CTFE) — owned by the Cheng family — paid an undisclosed sum for the utility, which had been planning to list on the Australian Securities Exchange (ASX) for an estimated $4 billion.

Alinta is currently owned by a group of hedge funds and private equity.

In a statement, the Sydney-headquartered company said the deal would be CTFE's first significant investment in Australia's energy market.

Read the full story here.

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