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Bond Market News
Sembcorp in Talks to Potentially Acquire Alinta Energy
December 8, 2025
Singapore’s Sembcorp Industries said that it was in talks to potentially acquire Australian utility Alinta Energy. The potential transaction’s size is not known yet. Alinta Energy is currently owned by Chow Tai Fook Enterprises (CTFE), a firm belonging to Hong Kong billionaire Henry Cheng. CTFE has been exploring the sale of Alinta, which serves over a million customers in Australia and New Zealand, to help address financial challenges at Cheng’s associated real estate firm, NWD. Sembcorp, which is backed by Singapore’s sovereign fund Temasek, is actively seeking to expand its presence in the APAC region. Alinta’s assets include the significant Loy Yang B coal-fired power plant in Victoria, though the utility is also working to increase its renewable energy capacity. Any deal would require approval from Australia’s foreign investment board.
Sembcorp’s bonds were trading stable, with its 2.45% 2031s at 100.4, yielding 2.4%.
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