HK's CK Asset rises most in 8 weeks on potential stake sale of UK Power Networks

CK Infrastructure Holdings

07/03/2022 05:40

** Shares of CK Asset Holdings Ltd  1113.HK  rise as much as
3.2% to HK$50, on track for their biggest daily percentage gain
since Jan 11, if gains hold
    ** Shares hit the highest since March 2; stock is the
third-biggest percentage gainer in Hang Seng sub-index, tracking
property firms  .HSNP , and the fourth biggest in Hang Seng
Index  .HSI 
    ** CK Asset, CK Hutchison  0001.HK , CK Infrastructure
Holdings  1038.HK , Power Assets  0006.HK  said in a joint
statement on Friday saying certain parties have expressed an
interest in acquiring a stake in UK Power Networks Holdings Ltd 
 urn:newsml:reuters.com:*:nL3N2V73HB urn:newsml:reuters.com:*:nFWN2V71HF
    ** UK Power Networks is controlled by a group of companies -
including CK Infrastructure, Power Assets and CK Asset - all
owned by the family of Hong Kong tycoon Victor Li, who is also
the top shareholder in conglomerate CK Hutchison 
    ** 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 bln pounds
($19.83 bln)
    ** Shares of CK Infrastructure climbs 1.7%, Power Assets
surges 2.1%, while CK Hutchison slips 0.5%
    ** The Hang Seng sub-index, tracking property firms  .HSNP ,
gains 0.8% and the benchmark Hang Seng Index  .HSI  drops 2.8%


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