A $7.5 Billion Sale Of Australian Electricity Assets To A Chinese Company Looks Set To Go Ahead

Joe HockeyTreasurer Joe Hockey. Photo: Getty Images

The Australian government could approve a $7.5 billion sale of key electricity assets to a Chinese company as early as today, according to a report.

The deal would involve China State Grid buying the assets from Singapore Power, according to The Fin.

This would be the second win for a Chinese company awarded by the Abbott government recently.

Earlier this month the Treasurer relaxed rules which would have forced a Chinese state-owned company to reduce its stake in one of Australia’s largest coal miners by the end of the year.

It would also come after he knocked back Archer Daniel Midland’s $3 billion bid for Graincorp.

There’s more here.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.