NetEase Finance January 24 According to British media reports, Li Ka-shing, chairman of the Changshi Group, intends to bid £3.5 billion (equivalent to HK$43.6 billion) to bid for E. ON’s UK’s second largest grid asset. It is understood that Abu Dhabi Investment Authority, Canada’s pension fund, etc. may also enter the bid. Yangtze River Construction (01038) and Hongkong Electric (00006) used HK$70 billion last year to acquire France’s EDF assets in the UK grid.
Following the huge amount of HK$70 billion at the end of last year to acquire France’s EDF’s largest power grid asset in the UK, Li Ka-shing may participate in bidding for the second largest power grid. According to the British "Sunday Times" report, Li Ka-shing will bid £3.5 billion to bid for E. On-grid assets held by ON have been commissioned by Deutsche Bank as an advisor.
E. ON This sale of grid assets mainly covers Mitrland and East Mittland. The coverage extends east to Lincolnshire, west to Wells border, south to Bristol, north to Peak, and the number of customers 9 million households. The network has a valuation of 3.6 billion pounds (approximately HK$44.8 billion), and the market is estimated to sell for 4 billion pounds. It is understood that Abu Dhabi Investment Authority, Canada Pension Fund, Macquarie Group, etc. are also interested in participating.
Dammam issued a report earlier that said E. The scale of ON's power grid in the UK is similar to that of the UK power grid that Yangtze River Construction acquired last year over EDF, which is equivalent to 60% of the scale of the Yangtze River’s existing power grid in the UK.
According to statistics, in recent years, Changjiang Construction has been actively looking for public utility assets in the UK. In addition to the joint acquisition of EDF UK power grid assets with the HEC and Li Ka Shing Foundation in November, it spent HK$2.5 billion in April last year to acquire the British power plant operator Seabank Power. % equity, and later transferred 25% of Seabank Power to HEC. In November 2009, Changjian and HEC increased their holdings of NGN, the UK's transportation gas supplier, to HKD 532 million and HKD 548 million, respectively, to 47.06% and 41.29%.
As of the first half of 2010, Chang Jian’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.
Gan Qinglin, managing director of Yangtze River Construction, once said that after the acquisition of EDF's UK grid assets, Changjiang Construction still has cash as much as 5 billion Hong Kong dollars, so it will study more acquisitions and the number of projects under study will exceed 10.
Li Ka-shing wants to buy the UK grid for the highest or bid 4 billion pounds
Core Tip: NetEase Finance January 24 According to British media reports, Li Ka-shing, chairman of Chang Shi Group, intends to bid 3.5 billion pounds (equivalent to 43.6 billion Hong Kong dollars) to bid for E. ON’s UK’s second largest grid asset. Following the huge amount of HK$70 billion at the end of last year to acquire France’s EDF’s largest power grid asset in the UK, Li Ka-shing may participate in bidding for the second largest power grid.