Saudi Arabia Said to Hire HSBC for Breakup of SEC Power Monopoly

Saudi Arabia hired HSBC Holdings Plc to advise on a potential breakup of state-owned utility Saudi Electricity Co. into four independent power-generation companies, four people with knowledge of the matter said.

Electricity & Cogeneration Regulatory Authority, the industry regulator, plans to offer as much as 25 percent in each of the companies to international investors, the people said, asking not to be identified as the information isn’t public.