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SGX-ST ReleaseMacquarie International Infrastructure Fund Limited (MIIF)
MIIF AGREES TO SELL ENTIRE INTEREST IN MIAOLI WIND
Singapore, 19 June 2013 - Macquarie International Infrastructure Fund Limited (MIIF)
today announced that it has agreed to sell its 100 per cent interest in Miaoli Wind for cash consideration of NT$2.25 million (S$94,768) 1 (the Divestment).
The divestment to Challenger Emerging Market Infrastructure Fund Pte Ltd (EMIF) was negotiated on an arm's length commercial basis and is subject to closing conditions, including regulatory approval. Following the Divestment, there will be no further liability or obligation to MIIF in relation to Miaoli Wind. EMIF is managed by Challenger MBK Fund Management Pte Limited, a fund management company incorporated in Singapore.
MIIF has valued Miaoli Wind at zero since 31 December 2009 because wind speeds have been significantly lower than forecasted at acquisition. MIIF's forecast was revised to the average actual historic generation which had the commensurate impact of reducing the valuation of the business.
For further information, please contact:
Wei Cheong | Fiona McDonald | ||
Investor Relations, Singapore | Corporate Communications, Hong Kong | ||
Tel: | (65) 6601 0766 | Tel: | (852) 3922 3591 |
Email: | wei.cheong@macquarie.com | Email: | fiona.mcdonald@macquarie.com |
1 Unless stated otherwise, all S$/NT$ exchange rates are based on a rate of 23.7421 as at 19 June 2013
None of the entities noted in this document is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities.distributed by |