Sembcorp Industries Ltd (SGX:U96) agreed to acquire a 98% stake in Portfolio of operational wind and solar photovoltaic assets from CGN Capital Partners Fund III L.P., managed by JIDA Capital Partners Ltd and CGN Private Equity Fund Management Company Limited for CNY 3.3 billion on November 1, 2021. The final consideration would be adjusted based on the audited financials at completion of the transaction. Sembcorp?s investment will be funded through a mix of internal cash resources and external borrowings. The transaction is subject to approval by regulatory board/committee. Completion of the acquisition is expected in the first half of 2022.