State Grid Corporation of China
In 2005, TXU sold its Australian assets to Singapore Power, which retained the distribution businesses (electricity and natural gas distribution networks) in Victoria, and onsold the remainder. Singapore Power then floated 49% of the business as SP Ausnet, retaining 51%. In May 2013, Singapore Power sold 19.9% of its 51% stake in the business to State Grid Corporation of China. SP AusNet changed its name to AusNet Services in August 2014. In September 2014, Hong Kong-based Cheung Kong Group bought all the shares in Envestra, including APA's 33.4% stake, while APA retained the operation and management of Envestra's assets until 2027. In October 2014 Envestra's name was changed to Australian Gas Networks Limited.