CK Hutchison jumps most in 8 weeks after $1 bln British utility deal

CK Infrastructure Holdings

15/07/2022 05:14

** Shares of CK Hutchison Holdings  0001.HK  rise 1.6% to
HK$53.15, their biggest daily pct gain since May 20, if gains
hold 
    ** Stock is the fifth-biggest pct gainer in the benchmark
Hang Seng Index  .HSI  and in Hang Seng Commerce & Industry
Index  .HSNC  
    ** Hong Kong's CK Hutchison said investment giant KKR & Co
 KKR.N  will invest 867 mln pounds ($1.02 bln) for a 25% stake
in its British utility company, Northumbrian Water Group
 urn:newsml:reuters.com:*:nL4N2YV31O
    ** The Durham-based company is jointly owned by CK Hutchison
and its affiliated companies CK Asset  1113.HK  and CK
Infrastructure  1038.HK 
    ** CK Hutchison expects to gain HK$1 bln ($127.39 mln) on
the Northumbrian deal, while CK Asset and CK Infrastructure will
receive HK$500 mln and HK$900 mln respectively
    ** Stock of CK Asset and CK Infrastructure both climb 1%
    ** The Hang Seng Composite Index  .HSCI  drops 1.4%, while
the Hang Seng Commerce & Industry Index  .HSNC  and the Hang
Seng Index  .HSI  both fall 1.3%
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))