CKI, HKE to buy EDF's UK power grid assets for $9.1 bln

Fri Jul 30, 2010 4:57am GMT
 

HONG KONG, July 30 (Reuters) - Cheung Kong Infrastructure (CKI) (1038.HK: Quote) and Hong Kong Electric (0006.HK: Quote) said on Friday they planned to buy France's EDF's (EDF.PA: Quote) British power grids for 5.8 billion pounds ($9.1 billion).

The announcement confirms an earlier story by Reuters, citing sources, that EDF, the world's second-largest utility, had agreed to sell its British power grids for more than 5.5 billion pounds to the two companies controlled by Asia's richest man, Li Ka-shing. [ID:nNN2925276].

Trading in shares of CKI and HKE will resume at 0630 GMT on Friday. (Reporting by Sui-Lee Wee, Editing by Jacqueline Wong)

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