CKI, Power Assets up after $943.5 mln deal to buy Phoenix Energy

CK Infrastructure Holdings

25/04/2024 04:47

** Shares of CK Infrastructure Holdings Ltd  1038.HK  (CKI)
climb 1.4% to HK$44.95, highest since April 12 and on course for
fifth consecutive session of gain
    ** A consortium formed by CKI, CK Asset  1113.HK  and Power
Assets  0006.HK  reached an agreement to buy Phoenix Energy, a
gas distribution network in Northern Ireland, for £757 million
($943.45 million)
    ** The deal is expected to be completed by the end of April,
CKI said in a statement
    ** CKI and CK Asset each hold 40% equity interest in the
consortium, Power Assets holds 20% 
    ** CK Asset  1113.HK  gains 1.6%, Power Assets  0006.HK 
climbs 1.3% and CK Hutchison  0001.HK  adds 0.3%

($1 = 0.8024 pounds)

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