The sale of Consolidated Electric Power Asia (Cepa) to Southern Energy looks a classic business school case study in the making - it might go: Pitfalls of buying guanxi in Asia.
Eight months ago Cepa chief executive, Stewart Elliott, boasted that the $21 billion deal would never have been done had he not committed to a lock-tight employment contract.
On Friday he quit, begging the question what exactly did the United States firm pay such an inflated premium for? Having pioneered the concept of private power generation in Asia, Southern invested big in the deal-making prowess of Sir Gordon Wu Ying-sheung, Mr Elliott and other top Cepa managers.
Chalk and cheese? At the time there was much talk of the two entering an ideal marriage.
With the honeymoon over the early infatuation has turned to bickering. Mr Elliott was the Cepa driving force, his resignation means it will inevitably be a very different company.
Now questions will be asked over the 20 per cent Cepa stake retained by Hopewell Holdings.