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.
- Hong Kong Tycoon to Pay $1 Billion for British Gas Firm (dealbook.nytimes.com)
- UPDATE 1-Hong Kong’s Li Ka-shing to buy UK gas assets for $1 bln (uk.reuters.com)
- Li Ka-shing Leads $1 Billion Offer for Wales & West Utilities – Bloomberg (bloomberg.com)
- Li Ka-shing to buy UK gas assets for S$1.26 billion (todayonline.com)
- Trading in shares of Cheung Kong Infrastructure halted (uk.reuters.com)