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Victor Li: N. Ireland Gas Distribution Network 'PEG' Returns Stable as Quality Asset
Recommend 9 Positive 25 Negative 9 |
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CKI HOLDINGS (01038.HK), CK ASSET (01113.HK) and POWER ASSETS (00006.HK) jointly announced that a joint consortium (CKI and CKA each hold 40% of the consortium, while PAH owns 20%) reached an agreement to acquire all the interests in Phoenix Energy Group, a gas distribution network in Northern Ireland. The transaction is expected to be completed by the end of April 2024. The acquisition has an enterprise value (EV) of GBP757 million, equivalent to approximately HKD7.4 billion, comprising an acquired interest of GBP312.6 million and net liabilities of GBP444.4 million. Li Tzar Kuoi, Victor, Chairman of CKI and CKA, said he was delighted that CKH had made another successful acquisition of a high quality asset with a stable return. According to the Group, Phoenix Energy is a high quality regulated asset, operating under a similar regulatory framework to that of the UK, which delivers stable cash flows and immediate returns and continues to provide recurring profits. AAStocks Financial News |
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