M&As this week: Chow Tai Fook Enterprises and NDT Corrosion Control Services

16 March 2017 (Last Updated March 16th, 2017 18:30)

Chow Tai Fook Enterprises has reached an agreement with a group of shareholders led by private equity and venture capital firm TPG Capital to acquire Alinta Energy.

Chow Tai Fook Enterprises has reached an agreement with a group of shareholders led by private equity and venture capital firm TPG Capital to acquire Alinta Energy.

Owned and controlled by the Cheng family, the Chow Tai Fook Enterprises is based in Hong Kong, whereas Alinta Energy is an electrical and natural gas utility based in Australia.

The purchase consideration for the acquisition is $3.1bn.

"NDT Corrosion Control Services Co has acquired a minority stake in Hi-Tech Inspection Services."

NDT Corrosion Control Services Co has acquired a minority stake in Hi-Tech Inspection Services, a company based in Oman.

Hi-Tech Inspection Services industrial non-destructive testing and inspection services, whereas NDT Corrosion Control Servoces, based in Saudi Arabia, provides non-destructive testing services for the industrial sector.