The three companies under Cheung Kong Holdings, affiliated with Li Ka-shing, sell their stake in the UK power grid business, successfully cashing out over 110 billion HKD

NightAirdropper · 2026-02-26T05:55:00+00:00

French utility giant Engie announces the acquisition of 100% equity of UK Power Networks, a UK electricity grid operator, for over HKD 110 billion, involving three listed companies under Cheung Kong. This deal will further strengthen Engie's presence in European energy infrastructure and provide an opportunity for Cheung Kong to optimize its asset portfolio.

NightAirdropper

2026-02-26 05:55:00

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French utility giant Engie announced recently that it will acquire 100% of UK Power Networks, a UK electricity grid operator, for a total price of over HKD 110 billion. The deal involves three listed companies under Cheung Kong Group—Cheung Kong Infrastructure, Power Assets, and CK Hutchison—holding 40%, 40%, and 20% stakes in the target company, respectively.

According to transaction details disclosed on the Hong Kong Stock Exchange, Cheung Kong Infrastructure and Power Assets will each receive HKD 44.3 billion in consideration, while CK Hutchison will earn HKD 22.15 billion in cash from selling its 20% stake. After the completion of these transactions, Engie will become the sole owner of UK Power Networks, further strengthening its position in European energy infrastructure.

The group emphasized in the announcement that this asset sale will generate significant accounting gains, and the large cash proceeds will be used to support future investments and acquisitions in new energy and utilities. Industry analysts believe that amid the accelerating energy transition in Europe, this deal not only offers Cheung Kong Group an opportunity to optimize its asset structure but also reflects ongoing international investor confidence in UK grid assets.

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