Deals
Li Ka-Shing’s CKI Offers $11.6 Billion to Buy Power Assets
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Cheung Kong Infrastructure Holdings Ltd. offered $11.6 billion in stock to buy Power Assets Holdings Ltd. as Li Ka-shing seeks to combine his utility businesses for further expansion.
Cheung Kong Infrastructure will offer 1.04 shares for every Power Assets share not owned by Li’s companies, according to a Hong Kong exchange statement on Tuesday. Cheung Kong Infrastructure will also pay out a special interim dividend of HK$5 a share when the deal is approved, it said.