CK Infrastructure's and Power Assets' Potential U.K. Assets Spin-Off Neutral for Now; Retain FVEs
On the whole we tend to expect CK Infrastructure's, or CKI's, and Power Assets' planned spin-off of its European assets to be positive as we see this as an opportunity for the group to potentially realize market valuations of these holdings. We also see the cash raised as possibly being utilized for new acquisitions with potentially better growth prospects particularly as the next permutation of allowed returns on the U.K. assets could be less attractive. However, the move could negatively impac...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.
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