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Cheung Kong, China Suitors Said to Plan Bids for Australian Grid

  • Transmission network lease could fetch more than A$10 billion
  • China Southern Power Grid partners with Qatari sovereign fund
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State Grid Corp. of China, the nation’s biggest electricity distributor, and billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. are among suitors planning to submit bids for Australian power network Ausgrid, people with knowledge of the matter said.

State-owned China Southern Power Grid Co. also plans to submit an indicative offer with Qatar Investment Authority for the Ausgrid lease by the Feb. 29 deadline, according to the people. The 50.4 percent holding in Ausgrid, which is being sold by the New South Wales state government, could fetch more than A$10 billion ($7.2 billion), the people said, asking not to be identified as the information is private.