Little Impact to our FVE from APA Deal Rejection, CK Infrastructure and Power Assets Still Cheap
While the bid cleared competition watchdog hurdles, Australia’s Treasurer has indicated he is likely to block the CK Infrastructure, CK Asset, and Power Assets Holdings joint-bid for gas transmission company APA Group. The final decision will be made in two weeks and unless the group is able to provide assurances or tweak the deal to appease security concerns that too many of the key gas pipelines are in foreign hands, the rejection is a sure thing. As mentioned previously, we have a neutral vie...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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