Since the big acquisition of Britain’s power grid last year, Li Ka-shing, the richest man in China, has once again set his sights on the British mainland.
According to the "Sunday Times" report, Li Ka-shing would like to bid 3.5 billion pounds (about 5.6 billion U.S. dollars, 1 pound 10.14974 yuan) to acquire German company E. ON is located in the power assets of central England, which is the second largest power grid in the UK. If the acquisition is successful, Li Ka-shing's power network will cover 30 million people in the UK.
The "Sunday Times" published on the 23rd by the £6.7bn purchase of British infrastructure assets did not disclose the source, nor did it indicate whether Li Ka-shing's Cheung Kong (0001. HK) or Cheung Kong Infrastructure (1038.HK) made the acquisition.
The report said that the world's largest public utility company E. ON planned to sell grid assets located in central England as early as last year. Li Ka-shing's Changshi Group started contacting E at the end of last year. The ON company that was interested in bidding at that time also included the Canadian Pension Fund, the Abu Dhabi Investment Authority and the Macquarie Group. But earlier this month, E. ON rejected the offer from the Canadian pension fund.
The news also stated that Li Ka-shing has already hired Deutsche Bank as an acquisition consultant.
E. ON's power assets in the UK are mainly composed of power companies in Midland and West Midlands, supplying more than 5 million households in central England. Previously, the company announced that it would spin off assets worth 19.8 billion U.S. dollars by 2013, shifting its focus to high growth markets such as South America.
Li Ka-shing’s interest in the UK infrastructure business has been long-standing.
In addition to the announcement in late July 2010 of the acquisition of three British electricity grid businesses under Electricite de France SA for £5.775 billion, in 2004, Cheung Kong Infrastructure purchased British water supplier Cambridge Water for £51.38 million; in 2005 it was 5.575. Billion pounds acquires 40% stake in Northern Gas Networks and increases to 88.4% in 2009. In 2007, it acquired 4.827% stake in Southern Water for 62.6 million pounds. In 2010, 2.18 million was invested by Changjiang Infrastructure. GBP billion acquired 50% of the shares of power supplier Seabank Power. Based on this calculation, Li Ka-shing has spent 6.7 billion pounds to purchase UK infrastructure assets in the past 6 years.
According to sources, Li Ka-shing currently controls about a quarter of the UK's electricity distribution market, about 10% of the natural gas supply market, and less than 5% of the water supply market.
Reuters said that Li Ka-shing bought the UK electricity network, highlighting his enthusiasm for stable assets.
According to Hong Kong’s Ta Kung Pao report, as of the first half of 2010, CKI’s profit contribution from the UK’s investment portfolio was approximately HK$216 million, a year-on-year decrease of 41%, which was mainly affected by one-time tax credits.
According to statistics, CKI currently has more than US$1.5 billion in cash.
Next stop in Ireland?
In fact, Li Ka-shing's interest is not only in the United Kingdom. The Sunday Times reported that in November last year, Li Ka-shing sent an executive delegation to Ireland to meet with Irish Prime Minister Brian Cowen and officials from the local Industrial Development Authority (IDA) and the Finance Bureau.
The delegation was led by Robert Finnegan, president of Hutchison Telecom's local Irish branch “3 Irelandâ€. The members included executives of Hutchison Whampoa and Cheung Kong Infrastructure Europe Office. According to reports, the delegation also met with officials of the Treasury of Ireland and politicians from the Irish opposition party.
According to informed sources, CKI has been on the list of potential Asian investors from the Industrial Development Authority of Ireland. Li Ka-shing is very interested in Ireland's energy facilities.
Gerry Sharkey, head of marketing at the Irish Industrial Development Authority, said that Asian investors are planning to invest heavily in overseas infrastructure markets.
The University of Dublin economist Colm McCarthy wrote a report on the sale of assets to the government, reporting that the energy company Bord na Mona, state-owned gambling agency National Lottery, and Irish gas and electric company Bord Gais can all be part of the retail business. sell.
According to the "Sunday Times" report, Li Ka-shing would like to bid 3.5 billion pounds (about 5.6 billion U.S. dollars, 1 pound 10.14974 yuan) to acquire German company E. ON is located in the power assets of central England, which is the second largest power grid in the UK. If the acquisition is successful, Li Ka-shing's power network will cover 30 million people in the UK.
The "Sunday Times" published on the 23rd by the £6.7bn purchase of British infrastructure assets did not disclose the source, nor did it indicate whether Li Ka-shing's Cheung Kong (0001. HK) or Cheung Kong Infrastructure (1038.HK) made the acquisition.
The report said that the world's largest public utility company E. ON planned to sell grid assets located in central England as early as last year. Li Ka-shing's Changshi Group started contacting E at the end of last year. The ON company that was interested in bidding at that time also included the Canadian Pension Fund, the Abu Dhabi Investment Authority and the Macquarie Group. But earlier this month, E. ON rejected the offer from the Canadian pension fund.
The news also stated that Li Ka-shing has already hired Deutsche Bank as an acquisition consultant.
E. ON's power assets in the UK are mainly composed of power companies in Midland and West Midlands, supplying more than 5 million households in central England. Previously, the company announced that it would spin off assets worth 19.8 billion U.S. dollars by 2013, shifting its focus to high growth markets such as South America.
Li Ka-shing’s interest in the UK infrastructure business has been long-standing.
In addition to the announcement in late July 2010 of the acquisition of three British electricity grid businesses under Electricite de France SA for £5.775 billion, in 2004, Cheung Kong Infrastructure purchased British water supplier Cambridge Water for £51.38 million; in 2005 it was 5.575. Billion pounds acquires 40% stake in Northern Gas Networks and increases to 88.4% in 2009. In 2007, it acquired 4.827% stake in Southern Water for 62.6 million pounds. In 2010, 2.18 million was invested by Changjiang Infrastructure. GBP billion acquired 50% of the shares of power supplier Seabank Power. Based on this calculation, Li Ka-shing has spent 6.7 billion pounds to purchase UK infrastructure assets in the past 6 years.
According to sources, Li Ka-shing currently controls about a quarter of the UK's electricity distribution market, about 10% of the natural gas supply market, and less than 5% of the water supply market.
Reuters said that Li Ka-shing bought the UK electricity network, highlighting his enthusiasm for stable assets.
According to Hong Kong’s Ta Kung Pao report, as of the first half of 2010, CKI’s profit contribution from the UK’s investment portfolio was approximately HK$216 million, a year-on-year decrease of 41%, which was mainly affected by one-time tax credits.
According to statistics, CKI currently has more than US$1.5 billion in cash.
Next stop in Ireland?
In fact, Li Ka-shing's interest is not only in the United Kingdom. The Sunday Times reported that in November last year, Li Ka-shing sent an executive delegation to Ireland to meet with Irish Prime Minister Brian Cowen and officials from the local Industrial Development Authority (IDA) and the Finance Bureau.
The delegation was led by Robert Finnegan, president of Hutchison Telecom's local Irish branch “3 Irelandâ€. The members included executives of Hutchison Whampoa and Cheung Kong Infrastructure Europe Office. According to reports, the delegation also met with officials of the Treasury of Ireland and politicians from the Irish opposition party.
According to informed sources, CKI has been on the list of potential Asian investors from the Industrial Development Authority of Ireland. Li Ka-shing is very interested in Ireland's energy facilities.
Gerry Sharkey, head of marketing at the Irish Industrial Development Authority, said that Asian investors are planning to invest heavily in overseas infrastructure markets.
The University of Dublin economist Colm McCarthy wrote a report on the sale of assets to the government, reporting that the energy company Bord na Mona, state-owned gambling agency National Lottery, and Irish gas and electric company Bord Gais can all be part of the retail business. sell.
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