CKI, Hong Kong Electric Acquire EDF’s UK Assets

31 October 2010 (Last Updated October 31st, 2010 18:30)

A consortium of Cheung Kong Infrastructure (CKI) and Hongkong Electric has bought Electricite de France's (EDF) UK electricity distribution networks for £5.78bn ($9.6bn). CKI and Hongkong Electric, which are controlled by Hong Kong tycoon Li Ka-Shing, will each hold 40% of the inves

A consortium of Cheung Kong Infrastructure (CKI) and Hongkong Electric has bought Electricite de France's (EDF) UK electricity distribution networks for £5.78bn ($9.6bn).

CKI and Hongkong Electric, which are controlled by Hong Kong tycoon Li Ka-Shing, will each hold 40% of the investment, while the remaining 20% is held by Li's two charitable organisations.

The assets comprise three regional networks serving 7.8 million customers in London and east England, according to Dow Jones.

CKI group managing director HL Kam told Dow Jones that the firm will consider more acquisitions in the future, including the scope of regulated businesses or UK-based projects.