CK Infrastructure Makes Small Canadian Acquisition; FVE Unchanged at HKD 69
CK Infrastructure's, or CKI's, purchase of a 25% stake in a Canadian HVAC equipment company currently owned by Cheung Kong Property has little impact on both firms, and we retain our fair value estimates for both. We think the move is mainly to justify CKI's appointment as the manager of the asset, which provides heating, ventilation, and air conditioning equipment and services to building and homeowners. While the operations are removed from CKI's normal utility investments, the income stream i...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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