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ANZ in power play downunder

ANZ in power play downunder

(Australia) - Australia's ANZ Bank is shortlisted in a US$1.5 billion bidding battle for electricity retailer CitiPower. The Bank is reportedly in partnership with the UK's energy group International Power in a bid to buy the US power company.

ABN Amro, which is handling the sale, has not confirmed any shortlisted players although notes that a number of companies are currently pursuing due diligence.

Other companies involved in the bidding include United Energy, TXU Australia and Singapore Power. Macquarie Bank has also joint bid with the Australian Gas Light Company. The winner is scheduled to be announced at the end of next month.
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