Linklaters, Freshfields on Li Ka-shing's Latest Deal
Qatar Investment Authority has invested $1.2 billion in the billionaire's Hong Kong power company.
June 10, 2015 at 02:46 AM
2 minute read
Linklaters and Freshfields Bruckhaus Deringer have the lead roles on sovereign wealth fund Qatar Investment Authority's $1.2 billion investment in tycoon Li Ka-shing's Hong Kong Electric Investments Ltd.
Qatar Investment Authority is buying a 16.53 percent stake in the utility company from its parent, Power Assets Holdings Ltd., and a 3.37 percent stake from Cheung Kong Infrastructure Holdings Ltd., another company controlled by billionaire Li.
Hong Kong Electric is one of the two main power suppliers in Hong Kong, servicing 568,000 customers primarily on Hong Kong Island. Power Assets listed Hong Kong Electric last year on the city's stock exchange last year after selling 50.1 percent of the company for $3.1 billion. The deal will leaves Power Assets with a 33.37 percent stake in Hong Kong Electric, which is in line with the company's intention to maintain a 30-49.9 percent holding, chairman Canning Fok said in a statement.
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