The U.K. power networks of E.ON may receive a £3.5 billion bid from Hong Kong billionaire, Li Ka-shing, Reuters reports, citing The Sunday Times. Li’s investment unit, Cheung Kong Infrastructure (CKI), had previously offered £3.5 billion to the German utility in 2010.
CKI has appointed Deutsche Bank for advice, while E.ON hired JP Morgan to handle the sale. The Canada Pension Plan Investment Board and Abu Dhabi Investment Authority, who were previously interested in E.ON’s U.K. electricity distribution business, have exited talks.
Click here for the story from Reuters.
Click here for the additional coverage from Bloomberg.