TXU sells Australian unit to Singapore Power, posts results
Energy company Singapore Power finalised the purchase of TXU Australia, part of Texas-based TXU Corp, on July 30 for $3.6 billion. TXU Corp’s 2004 second-quarter results reveal it has posted a $600 million loss, compared with $105 million net income in the same period last year.
Following the purchase, Singapore Power says it now has a diversified portfolio of Australian assets, mainly in the stable regulated network business and growing merchant energy business. For example, Singapore Power has owned
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