IPP
, Hong Kong

Hong Kong tycoon Li offers $5.4b cash for Australian energy firm

He offered A$3 per share for Duet Group.

Bloomberg reported that Hong Kong billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. offered A$7.3 billion ($5.4 billion) in cash for Australia’s Duet Group as it seeks to expand its power and gas pipeline assets.

CKI offered A$3 a share for the infrastructure company -- 28 percent more than Friday’s close -- Sydney-based Duet said Monday in a statement. The company’s board said it’s evaluating the non-binding and conditional offer that pushed its shares to the highest in eight years.

Find out more here.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Will the government pay for coal power exit in Vietnam?
The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.
IPP
India removes licence requirement to build transmission lines for bulk consumers
The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.
NEFIN Group works double time to catch up on projects
CEO Glenn Lim explains how a delay turned out good as the company aims to reach 667 MW of capacity by 2026.