Pacific Hydro sold to China's State Power Investment Corp
Source: AFR 16 December 2015
China's State Power Investment Corp has bought IFM Investors' renewable energy business, Pacific Hydro.
IFM signed a deal to sell Pacific Hydro in its entirety on Wednesday afternoon following a hotly-contested auction which saw multiple bids for the business as a whole and for the separate Australian and South American units.
Santander advised State Power Investment Corp. The sale price is said to be north of $3 billion, including debt.
The deal is expected to close in late January.
Read More HERE