Cheung Kong Group Confirms Joint Bid for Duet Group, Our Fair Value Estimate Unchanged For Now
As expected, Cheung Kong Infrastructure Holdings, or CKI, and Power Assets Holdings, or PAH, will be jointly bidding for Australian utility Duet Group but somewhat surprisingly, Cheung Kong Property Holdings, or CKPH, will be making its maiden utility foray. Both CKI and CKPH will take 40% stakes in the joint venture and PAH, the remainder. We leave our fair value estimates for the three companies as well as Cheung Kong Hutchison Holdings unchanged for now.The companies have been undertaking th...
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