CK Infrastructure and Power Assets Formalize APA Bid; Our FVEs Unchanged
CK Infrastructure, or CKI; Power Assets, or PAH; and CK Asset Holdings’ joint bid for Australian gas transmission and distribution company APA Group is now nonbinding, although it is still subject to both shareholder and regulatory approvals for the AUD 13 billion purchase. APA’s board has recommended that shareholders accept the takeover. We have already reflected the potential earnings contribution from APA in our profit forecasts, assuming that CKI and PAH each take a 20% stake in APA and the...Power Assets is an investment holding company. Through its subsidiaries, Co. is engaged in investment in power and utility-related businesses. Co. has interests in electricity generation, transmission and distribution, renewable energy and gas distribution. Co. operated three segments: Sales of electricity, which supplies electricity in Hong Kong; Investments, which invests in power and utility-related businesses and is segregated further into four reportable segments (U.K., Australia, Mainland China and Others) on a geographical basis; and all other activities, which represents other activities carried out by Co.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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