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Australia finalizes decision to block Ausgrid sale to Chinese bidders

( August 19, 2016, 08:23 GMT | Official Statement) -- MLex Summary: Australian Treasurer Scott Morrison has issued a final decision prohibiting the lease of 50.4 percent of New South Wales electricity distribution network Ausgrid to Chinese bidders due to national interest concerns. The treasurer said the decision was based on the structure of the transaction and the nature of the assets, but maintained that Australia welcomes foreign investment as long as it is not contrary to national interests.The Australian treasurer's full statement follows: ...

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