HONG KONG May 16 Hong Kong's NWS Holdings Ltd
plans to sell its interest in a Macau power supplier
to a China state-owned company in a deal worth $612 million, as
the transport-to-energy operator focuses on water and related
NWS said its equally owned joint venture with Suez
Environnement Company had agreed to sell its 90
percent stake in Sino-French Energy Development Co Ltd to Nam
Kwong Development, a company under China's State-owned Assets
Supervision and Administration Commission.
Macau gambling kingpin Stanley Ho holds the remaining 10
percent of Sino-French Energy, which in turn owns 42.2 percent
of Macau electricity supplier Companhia de Electricidade de
As part of the deal, the NWS joint venture will have an
option to buy back 9 percent of the stake in Sino-French Energy,
NWS said in a filing to the Hong Kong bourse late on Thursday.
NWS, a unit of New World Development Co Ltd, said
it expected to book a gain of HK$1.5 billion ($193.50
million)from the disposal.
($1 = 7.7519 Hong Kong Dollars)
(Reporting by Donny Kwok; Editing by Stephen Coates)