SINGAPORE, April 15 (UPI) — SembCorp Utilities, a wholly owned subsidiary of engineering group SembCorp Industries, announced Tuesday it had acquired a British utilities firm owned by bankrupt Enron Corp. for about $137.3 million.
The Singapore government-controlled SembCorp said it had bought the assets and business of Enron Teeside Operations Ltd from receiver Deloitte & Touche.
“With this acquisition, SembUtilities now owns a profitable brownfield centralized utilities business in the U.K., similar to SembUtilities’ operations on Jurong Island,” the company said.
ETOL’s main assets include a 133-megawatt cogeneration facility and water treatment plant, together with related distribution and service infrastructure.
The acquisition will substantially increase SembUtilities’ overseas activities and is in line with its strategy to derive an increasing proportion of revenue from outside Singapore, the company said.
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