SINGAPORE state investor Temasek Holdings said on Tuesday it has sold its fully-owned electricity generator PowerSeraya to a subsidiary of Malaysia's YTL Power International Bhd for an enterprise value of $3.8 billion (US$2.48 billion).

Temasek said in a statement that Sabre Energy, a wholly-owned subsidiary of YTL, will pay S$3.6 billion and assume S$201 million of adjusted net debt of PowerSeraya as of March 31, 2008. The deal is expected to be completed in early 2009. -- THOMSON REUTERS