DOW JONES NEWSWIRES
Cheung Kong Infrastructure Holdings Ltd. (1038.HK) has bought France's EDF U.K. electricity unit for GBP5.8 billion ($9.05 billion), the Financial Times reported Friday, citing unnamed sources.
The Hong Kong company is controlled by billionaire Li Ka-shing. The deal is expected to be announced later Friday, and is about 45% higher that the price originally asked for, the report on the FT web site said.
CKI outbid a consortium comprising Australia's Macquarie, a Canada pension plan and the Abu Dhabi Investment Authority, the report said. In the U.K., EDF has long-term deals with the London Underground, Heathrow and Gatwick airports, and the Channel Tunnel, among others, according to the report.
Full story: http://www.ft.com/cms/s/0/91e85cb2-9b63-11df-8239-00144feab49a.html
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