Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


July 29, 2015 12:12 PM ET

Electric Utilities

Company Overview of TransGrid

Company Overview

TransGrid owns, operates, and manages high voltage electricity transmission network that connects generators, distributors, and end users in New South Wales and the Australian Capital Territory. The company offers electricity transmission service through high voltage transmission lines and underground cables, and substations for homes, factories, and businesses. It also provides network planning, consultations, network connections, transmission pricing, and network support and demand management solutions. In addition, the company owns and operates telecommunications network comprising microwave radio systems and an optical fibre network. Its network is made up of approximately 12,900 kilomet...

180 Thomas Street

PO Box A1000

Sydney South, NSW 1235

Australia

Founded in 1950

884 Employees

Phone:

61 2 9284 3000

Fax:

61 2 9284 3456

Key Executives for TransGrid

Managing Director, Executive Director, Member of Board Health & Safety Committee, Member of Board Regulatory Committee and Member of Board Remuneration & Structure Committee
General Manager of Finance
Executive General Manager of Network Services & Operations
Board Secretary
Executive General Manager of People & Corporate Services
Compensation as of Fiscal Year 2015.

TransGrid Key Developments

Singapore Power- AusNet Services Joint Bid For TransGrid Reportedly Worth $6 Billion

Singapore Power Ltd and AusNet Services (ASX:AST) were in talks to launch a joint bid for TransGrid last week. The bid is estimated to be worth approximately $6 billion, according to sources. Deutsche Australia Limited and UBS AG, Australia Branch have been appointed as advisors to manage the sale process which is expected to be completed by Christmas.

TransGrid To Seek Funding From CEFC, Australian Renewable Energy Agency And Others

TransGrid is planning to seek funding from the Australian government's Clean Energy Finance Corporation (CEFC) for building a wind farm electricity hub near the Queensland state border, as per TransGrid Strategy Chief, Greg Garvin. TransGrid will discuss financing options with all funding sources including the CEFC and the Australian Renewable Energy Agency, said Greg Garvin. TransGrid is defying Prime Minister, Tony Abbott's order to CEFC to stop investing in wind and solar power.

AusNet Lead Bidder For TransGrid

AusNet Services (ASX:AST) is the lead bidder for TransGrid but is leaving its options open on whether it will bid alongside its major shareholders, Singapore Power Ltd and State Grid Corporation of China, or with other parties. Tony Iannello, AusNet’s Director leading the board subcommittee considering a bid, said that AusNet's experience and track record in running similar assets in Victoria placed it well to put forward a "competitive and compelling bid" for TransGrid, the first business to be sold off in the NSW government's $30 billion "poles and wires" privatization. Expressions of interest in TransGrid are due on July 14, 2015. Deutsche Bank and UBS are advising on the sale. TransGrid is worth about $9 billion. State Grid, which owns 19.9% of AusNet, is understood to have been in discussions with other potential bidders including Macquarie Infrastructure and Real Assets, Inc. Other consortiums include one of Spark Infrastructure Group (ASX:SKI), Hastings Funds Management Limited and Canadian and Middle Eastern parties. Australian Super is in a separate group with Borealis Capital Corporation and Canada Pension Plan Investment Board, while Cheung Kong Infrastructure Holdings Ltd. (SEHK:1038) is thought to be bidding alone. Other parties involved include China Southern Power Grid Co.,Ltd. with China Investment Corporation, and QIC Limited and IFM Investors Pty Ltd. "We believe foreign ownership will mean higher prices," said Steve Butler, NSW secretary of the Electrical Trades Union. Singapore Power and State Grid are being excluded from the work on the bid by AusNet and its adviser Citigroup until they decide whether they will participate in different groups. "We would dearly love them to support any bid that we put forward; what they decide to do is up to them," Tony Iannello said. He added: "We've had a lot of interest from a number of investors; given our strong operational capability it makes AusNet Services a prime target to lead any consortium. We're keeping our options open ... as we go through the bidding phase." Though he said AusNet could bid alone. "AusNet Services has got a very strong credit rating: We've got two major strategic investors and it has got access to a whole range of capital markets on the debt and equity side to be able to carry through on a bid," he said.

Similar Private Companies By Industry

Company Name Region
Momentum Energy Pty Limited Asia
Ergon Energy Corporation Limited Asia
AusNet Finance Pty Ltd Asia
CoGen ORC Power Asia
Gradient Energy Limited Asia

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact TransGrid, please visit www.transgrid.com.au. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.