HK’s CK Infrastructure said to weigh listing of UK assets

Residential and commercial buildings are seen from Victoria Peak in Hong Kong, China, on Monday, Sept. 11, 2017. Photographer: Billy H.C. Kwok/Bloomberg Photo by Bloomberg

Hong Kong tycoon Victor Li’s CK Infrastructure Holdings Ltd., which owns energy and water utilities globally, is considering listing some U.K. assets through a London initial public offering, people with knowledge of the matter said.

CK Infrastructure is speaking with investment banks about the listing of certain U.K. holdings through a potential multi-billion dollar fund, according to the people, who asked not to be identified because the information is private. The company is still discussing the entity’s structure and which assets to include and may decide not to pursue the transaction, they said.

The Asian investor built a stable of British infrastructure assets ranging from sewage to gas to rail over the last decade. A group led by CK Infrastructure in 2010 acquired the U.K. power networks from Electricite de France SA for 5.8 billion pounds ($7.6 billion) and a year later bought utility Northumbrian Water for 2.4 billion pounds. In 2015, CK Infrastructure acquired Eversholt Rail for 2.5 billion pounds to gain control of almost a third of the U.K.’s passenger trains.

A representative for CK Infrastructure didn’t respond to requests for comment.

Some assets are jointly held with Power Assets Holdings Ltd., a separately-listed arm of CK Infrastructure. Li’s flagship conglomerate CK Hutchison Holdings Ltd. CK Asset Holdings Ltd., which is also backed by Li’s family, has made infrastructure acquisitions of its own in recent years in Australia, Germany and Canada.

Bloomberg

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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