Arab Today, arab today hong kong firm\s shares soar after british water deal
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Hong Kong firm\'s shares soar after British water deal

Arab Today, arab today

Arab Today, arab today Hong Kong firm\'s shares soar after British water deal

Hong Kong - AFP

Shares in a firm controlled by Hong Kong\'s richest man Li Ka-shing hit a record high Wednesday, a day after it announced a $3.9 billion deal to buy one of Britain\'s biggest water utilities. Cheung Kong Infrastructure Holdings (CKI) surged to HK$47.45 ($6.09), up 2.82 percent from its Tuesday close. The price is its highest since listing in 1996, a CKI spokeswoman confirmed. The firm surged to HK$47.25 shortly after it announced the acquisition of Northumbrian Water on Tuesday, the latest move by the Hong Kong tycoon into Britain\'s utility sector. The deal, which is subject to the approval of Northumbrian shareholders and expected to close in October, will see CKI pay 465 pence a share for the British firm. Northumbrian supplies northeastern England and has about 2.6 million customers. It is among 10 regulated water and sewage businesses in England and Wales. CKI is a division of Cheung Kong Holdings, the flagship company of Li, who is nicknamed \"Superman\" for his long-running business success. The firm has invested heavily abroad as it seeks to broaden his earnings base owing to difficulties expanding in Hong Kong. In November CKI joined Hongkong Electric Holdings in a consortium to buy the British power distribution network of French electricity giant EDF for $9.28 billion, Li\'s fifth purchase in Britain. That acquisition was the largest deal by a Hong Kong entity in the country. The 83-year-old Li was ranked in March as the 11th wealthiest person in the world by the Forbes rich list, with a net worth estimated at $26 billion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong firm\s shares soar after british water deal Arab Today, arab today hong kong firm\s shares soar after british water deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kong firm\s shares soar after british water deal Arab Today, arab today hong kong firm\s shares soar after british water deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday