HK's CKI at near 2-mth low; leads buyout of Australia's APA
13/08/2018 04:02
** Stock of CK Infrastructure Holdings Ltd 1038.HK (CKI),
fall 1.4 pct to HK$57, its lowest since June 22, after it leads
a consortium to buy out Australia's biggest gas pipeline company
APA Group APA.AX
** APA Group recommends A$12.98 bln ($9.45 bln) buyout offer
from consortium led by CKI, in absence of a better offer
urn:newsml:reuters.com:*:nL4N1V30O5
** CKI, leading a consortium with CK Asset Holdings
1113.HK and Power Assets Holdings 0006.HK , says it is
seeking regulatory approval for the deal
** Shares of CK Asset fall 1.8 pct to HK$56.80, the lowest
since May 24, 2017. Power Assets slides 1.5 pct and CK Hutchison
0001.HK is down as much as 2.6 pct
** As of the previous close, shares of CKI had fallen 13.92
percent so far this year
** Among the 14 analysts that cover CKI, the current average
rating on the shares is "buy"; the breakdown of recommendations
is 11 "strong buy" or "buy", and three "hold". The analyst mean
price target is HK$72.96
** Hong Kong's benchmark index .HSI falls 1.5 pct
(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)