Sembcorp receives EMA approval for Senoko Energy acquisition

It is set to acquire a 30% stake in Senoko Energy.

Sembcorp Industries has announced that the Energy Market Authority (EMA) of Singapore has reviewed and approved its proposed acquisition of a 30% interest in Senoko Energy Pte Ltd, currently held by TWMB Holdings B.V., a subsidiary of ENGIE Global Development B.V. 

“This takes into consideration the commitments proposed by Sembcorp to adhere to and ensure fair market competition,” the bourse filing stated.

The acquisition is still subject to certain conditions, including the pre-emption rights of existing shareholders of Senoko Energy.