Subscribe free to our newsletters via your
. Energy News .




ENERGY TECH
Hong Kong billionaire to buy UK gas company
by Staff Writers
Hong Kong (AFP) July 25, 2012


A consortium led by Asia's richest man Li Ka-shing agreed Wednesday to acquire a British gas distribution company for 645 million ($1 billion), the companies said.

Consortium leader Cheung Kong Holdings said it plans to acquire MGN Gas Networks, which owns gas distributer Wales & West Utilities, from investors including Macquarie Global Infrastructure Funds 2 SARL.

Wales & West Utilities supplies 7.4 million customers in Wales and southwestern England with a total length of main gas pipeline of 35,000 kilometres (21,750 miles).

The company represents a "quality investment which would provide long-term steady recurring income contribution", the consortium said in a statement to the Hong Kong stock exchange.

It also reflects Cheung Kong Holdings' "strategy to embrace new growth opportunities through diversification and globalisation".

Cheung Kong -- which already owns or operates infrastructure businesses in Hong Kong, mainland China, the United Kingdom, Australia, New Zealand and Canada -- paid nearly $4 billion to buy one of Britain's biggest water utilities, Northumbrian Water, last year.

The flagship company of Li, who is worth $22 billion according to Forbes magazine, Cheung Kong has invested heavily abroad as it seeks to broaden its earnings base outside Hong Kong.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY TECH
Vietnam, Philippines slam China garrison plan
Hanoi (AFP) July 24, 2012
Vietnam and the Philippines on Tuesday lashed out at China's moves to establish a military garrison in the South China Sea, amid escalating tensions in the disputed waters. Hanoi filed a formal protest with Beijing against the plan outlined by China this week to station troops in Sansha in the disputed Paracel Islands, saying it "violates international law". Manila, which is involved in ... read more


ENERGY TECH
BSU starts second phase of largest geothermal system in U.S.

Roadmap for a Sustainable Energy System in the Dominican Republic

Apollo Energy Assists Businesses Cutting Commercial Energy Costs

Ireland calls for interconnector approval

ENERGY TECH
China eyes Canada for oil deals

Hungary, Azerbaijan seek joint projects

Vietnam, Philippines slam China garrison plan

Hong Kong billionaire to buy UK gas company

ENERGY TECH
SeaRoc to provide full installation services on Narec's Offshore Anemometry Hub

Italian police seize giant wind farm in mafia probe

GL Garrad Hassan releases update of WindFarmer 5.0

U.S moves massive wind farm plan forward

ENERGY TECH
UCLA researchers create highly transparent solar cells for windows that generate electricity

DuPont Addresses Patent Protection at Solarbuzz China Conference

Solar Module Price Erosion Slows in the Second Half of 2012 as Demand Rises

Next Phase in SolarStrong Project for Sustainable Electricity Production

ENERGY TECH
Convoy taking Italian spent nuclear fuel to France: reports

Opportunity after the nuclear disaster at Fukushima

AREVA and Northrop Grumman Announce Plans to Provide Cybersecurity Support to U.S. Nuclear Facilities

40 India nuclear plant workers contaminated: firm

ENERGY TECH
Strategies to improve renewable energy feedstocks

Brazil to build first algae-based biofuel plant

OriginOil Ships First Production System to Paris-Based Ennesys

Beating the fuel prices: Using yeast for economic production of bioethanol

ENERGY TECH
Looking Forward to Shenzhou 10

Astronauts in good shape after return

Shenzhou mission sparks 'science fever'

China Beats Russia on Space Launches

ENERGY TECH
Southern French worms wriggle as far north as Ireland

Asia unlikely to achieve climate, poverty goals unless women's rights are recognized

Generation X is surprisingly unconcerned about climate change

No end in sight for US drought: experts




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement