State Grid Corporation of China
Ausgrid was wholly owned by the Government of New South Wales from 2011 to 2016. In 2016, the New South Wales Government offered the effective sale of a 50.4% stake in Ausgrid, through a 99-year lease. Initial bidding was won by a consortium of State Grid Corporation of China and Cheung Kong Infrastructure Holdings. On 11 August 2016 the Federal Government intervened to block the proposal, citing national security concerns regarding foreign ownership of critical infrastructure. In September 2016 the New South Wales Government instead accepted a bid from an Australian-based consortium of AustralianSuper and IFM Investors, for a sum of $16 billion.