Skip to main content
Best News Website or Mobile Service
 
WAN-IFRA Digital Media Awards Worldwide
Best News Website or Mobile Service
 
Digital Media Awards Worldwide
Hamburger Menu

Advertisement

Advertisement

Business

CK Infrastructure confirms interest over stake sale in UK Power Networks

China's CK Infrastructure Holdings said on Friday certain parties have expressed an interest in acquiring either a portion or the company's entire stake in UK Power Networks Holdings Ltd.

Earlier this week, media reported a consortium led by Australia's Macquarie Group and U.S. investment giant KKR & Co were in talks to buy the electricity distribution network operator, offering up to 15 billion pounds ($19.83 billion).

CK Infrastructure did not name the parties involved in any potential transaction, and added there was no certainty an agreement would be reached.

Electricity distribution grids, which connect homes and businesses with local transmission systems, are attracting attention as being vital components of the network as transition towards greener energy gathers pace.

UK Power Networks is controlled by a group of companies - CK Infrastructure, Power Assets Holdings and CK Asset Holdings - all owned by the family of Hong Kong tycoon Victor Li, who is also the top shareholder in conglomerate CK Hutchison Holdings.

Based out of London, UK Power Networks owns and maintains electricity distribution network across London, and south-east and east England.

(Reporting by Harish Sridharan and Sameer Manekar in Bengaluru; Editing by Maju Samuel and Krishna Chandra Eluri)

Source: Reuters
Categories

Advertisement

Also worth reading

Advertisement