This transaction is another landmark illustration of B&A’s unique capacity to accompany western clients in their strategic transactions in China.
B&A Investment Bankers acted as exclusive financial advisor to ENGIE, the world leading independent power producer and the global reference in low-carbon energy and services, on the sale of its 40% stake in Chongqing Sino-French Energy Services. At the end of an international competitive sale process ran by B&A, Singapore Power Group acquired the asset.
Established in 2010, SFES was a joint-venture company between ENGIE and Chongqing Gas Group, the leading Chinese state-owned gas supplier. SFES is the local market leader for District Heating and Cooling (DHC) and Combined Cooling Heating and Power (CCHP) solutions. Singapore Power Group (SP), wholly owned by Temasek, Singapore’s Sovereign Fund, is a leading utilities group in Asia Pacific, enabling a low carbon, smart energy future for its users. SP realizes with the SFES operation its first acquisition of an energy asset in China. The acquisition will allow the Group to grow its market share of CCHP solutions in the region.