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Naturgy Hires Morgan Stanley to Consider Australian Unit Sale, Expansion

Dec 13 (Reuters) - Spanish utility Naturgy has hired Morgan Stanley to evaluate a potential sale of the Australian assets of its unit Global Power Generation, the Expansion newspaper reported on Tuesday evening, citing unidentified sources with knowledge with the matter.

The Australian assets of the unit, which operates renewable power plants in eight countries, are worth about 4 billion Australian dollars ($2.62 billion), the newspaper said.

The operation was first reported by Australian Financial Review.

Naturgy holds a 75% stake in Global Power Generation while Kuwait's sovereign fund KIA owns 25%, according to Naturgy's website.

A spokesperson for Naturgy declined to comment. Morgan Stanley and KIA were not immediately available for comment.

($1 = 1.5263 Australian dollars)

Reporting by Jakub Olesiuk; editing by Inti Landauro

Source: Reuters

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