Li Ka-shing, Asia’s richest man, has turned to longtime Hong Kong counsel Woo Kwan Lee & Lo and Freshfields Bruckhaus Deringer for a reorganization of his $97 billion business empire.
The 86-year-old Li controls his business empire through Cheung Kong (Holdings) Ltd., which operates significant property, ports, infrastructure, retail, telecommunications and energy businesses in 50 countries. Under Li’s proposed reorganization, a newly created company called CKH Holdings will become the group’s holding company. If shareholders vote in favor, CKH will then merge with two other significant companies in the group: Hutchison Whampoa Ltd. and Husky Energy Inc. Finally, the group’s real-estate assets will be transferred to a new company called CK Property. Both of the new companies will be listed on the Hong Kong stock exchange by way of introduction.
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