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May 12, 2016

M&As this week: Tenaga Nasional Berhad, GE Power, and Eolien Maritime France

Tenaga Nasional Berhad has reached an agreement with GMR Infrastructure to acquire a 30% stake in its subsidiary GMR Energy (GEL) for $300m.

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Tenaga Nasional Berhad has reached an agreement with GMR Infrastructure to acquire a 30% stake in its subsidiary GMR Energy (GEL) for $300m.

GEL owns and operates five power plants with a combined generation capacity of 4,630MW and four with a combined generation capacity of 2,300MW under development in India and Nepal respectively.

GE Power has reached an agreement with Doosan Engineering & Construction, to acquire its subsidiary Doosan Engineering & Construction HRSG for $250m.

GE Power is a subsidiary of General Electric and aims to expand its combined-cycle power plant (CCPP) portfolio. It will consolidate the acquired HRSG into its Gas Power Systems.

The transaction is subject to regulatory approvals and agreements from Doosan’s shareholders.

Eolien Maritime France has agreed for Enbridge to acquire a 50% stake in its business for C$282m ($217.76m).

The aquisition is expected to be completed in May, when equal joint partners Enbridge and EDF Energies Nouvelles will work with Eolien Maritime France to co-develop three large-scale offshore windfarms off the coast of France.


Image: EDF Energies Nouvelles will jointly develop three offshore windfarms in France with Enbridge. Photo: courtesy of Tangopaso.

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