Hong Kong Tycoon to Pay $1 Billion for British Gas Firm – NYTimes.com

Hong Kong Tycoon to Pay $1 Billion for British Gas Firm – NYTimes.com.

Nader Nazemi-Li Ka-shing, the richest person in Asia

Li Ka-shing, the richest person in Asia

Looks like he is on a shopping spree. Asia and especially South East Asia has tremendous growth opportunities. The world is shifting to Asia as the hub natural resources and M&A deals. China will be taking the US over has the top economic power.
HONG KONG — A consortium of companies owned by Li Ka-shing, the richest person in Asia, agreed on Wednesday to buy MGN Gas Networks of Britain for £645 million ($1 billion), as Mr. Li’s corporate empire continued to broaden its already large global footprint in the energy sector.
Three Hong Kong-listed companies controlled by Mr. Li and his family — Cheung Kong Holdings, Cheung Kong Infrastructure and Power Assets Holdings — each have a 30 percent stake in the bidding consortium, while the charitable Li Ka-shing Foundation will hold the remaining 10 percent stake, according to a joint stock exchange announcement on Wednesday.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s