EDF is selling three power grids and a private power network business in the UK to Hong Kong-based billionaire Li Ka-Shing for £5.8bn ($9.1bn).

The acquisition has been made by the Hong Kong tycoon’s investment vehicles, Cheung Kong Infrastructure and Hongkong Electric, from the French company.

EDF’s electricity distribution networks supply power from the high-voltage grid to 20 million people via three adjacent networks in London and England’s east and southeast.

The private networks business supplies power under ten year-long contracts to the London Underground, Heathrow airport and the Channel Tunnel.

The acquisition will increase Cheung Kong Infrastructure’s presence in the UK and will cut the debt of EDF, according to Reuters.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.