CK Infrastructure confirms interest over stake sale in UK Power Networks

CK Infrastructure Holdings

04/03/2022 15:09

March 4 (Reuters) - China's CK Infrastructure Holdings
 1038.HK  said on Friday certain parties have expressed an
interest in acquiring either a portion or the company's entire
stake in UK Power Networks Holdings Ltd.
    Earlier this week, media reported a consortium led by
Australia's Macquarie Group  MQG.AX  and U.S. investment giant
KKR & Co  KKR.N  were in talks to buy the electricity
distribution network operator, offering up to 15 billion pounds 
($19.83 billion). 
    CK Infrastructure did not name the parties involved in any
potential transaction, and added there was no certainty an
agreement would be reached.  
    Electricity distribution grids, which connect homes and
businesses with local transmission systems, are attracting
attention as being vital components of the network as transition
towards greener energy gathers pace.
    UK Power Networks is controlled by a group of companies - CK
Infrastructure, Power Assets Holdings  0006.HK  and CK Asset
Holdings  1113.HK  - all owned by the family of Hong Kong tycoon
Victor Li, who is also the top shareholder in conglomerate CK
Hutchison Holdings  0001.HK .
    Based out of London, UK Power Networks owns and maintains
electricity distribution network across London, and south-east
and east England.

 (Reporting by Harish Sridharan and Sameer Manekar in Bengaluru;
Editing by Maju Samuel and Krishna Chandra Eluri)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))