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Billionaire Cheng Kicking Off $3 Billion Alinta Energy Sale

  • Chow Tai Fook Enterprises working with Goldman on the sale
  • Conglomerate has reached out to several potential suitors
Adrian Cheng
Adrian ChengPhotographer: Billy H.C. Kwok/Bloomberg
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Chow Tai Fook Enterprises Ltd., backed by Hong Kong billionaire Henry Cheng, is preparing to kick off the sale of Australian power company Alinta Energy, in a deal that could value it at about $3 billion, people with knowledge of the matter said. 

Chow Tai Fook is working with Goldman Sachs Group Inc. on the potential divestment, said the people, who asked not to be identified as the information is private. The company has reached out to several prospective suitors to gauge interest in Alinta and is planning to formally launch the sale process as soon as the coming weeks, the people said.