Cheung Kong’s Bid for Duet Group Gets Final Approvals; FVE Impact is Minimal
Cheung Kong Infrastructure Holdings, or CKI, and Power Assets Holdings, or PAH, have obtained approval from Australia’s Foreign Investment Review Board for their joint bid for gas pipeline and power distribution company Duet Group. The approval allowed Duet shareholders to meet and formally accept the AUD 7.4 billion bid, in which CKI and PAH will end up with respective 40% and 20% stakes, with the balance going to another group company, CK Property. We estimate that the acquisition will bolster...CK Infrastructure Holdings and its subsidiaries are engaged in the development, investment and operation of infrastructure businesses in Hong Kong, Mainland China, the U.K., the Netherlands, Australia, New Zealand and Canada. Through its subsidiaries, Co. is engaged in investment holding; production and laying of asphalt; manufacturing, sale and distribution of cement and property investment; financing; treasury; and waste management servicce. Through its principal associates, Co. is engaged in investment in power and utility-related businesses, and electricity distribution.
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