Hong Kong tycoon Li Ka-shing is buying U.K. utility Northumbrian Water Group for £2.4 billion, Reuters reports. Li’s Cheung Kong Infrastructure Holdings (CKI) is paying 465 pence per share for Northumbrian.
RBC is lead financial adviser and HSBC is financial adviser to Northumbrian, while Deutsche Bank is exclusive financial adviser and corporate broker. Northumbrian will be incorporated into the newly formed company U.K. Water, wholly owned by a consortium within the CKI group.
Click here for the story from Reuters.
Click here for additional coverage from Financial Times.