BUZZ-CKI, Power Assets up after $943.5 mln deal to buy Phoenix Energy

Reuters04-25

** Shares of CK Infrastructure Holdings Ltd (CKI) climb 1.4% to HK$44.95, highest since April 12 and on course for fifth consecutive session of gain

** A consortium formed by CKI, CK Asset and Power Assets reached an agreement to buy Phoenix Energy, a gas distribution network in Northern Ireland, for £757 million ($943.45 million)

** The deal is expected to be completed by the end of April, CKI said in a statement

** CKI and CK Asset each hold 40% equity interest in the consortium, Power Assets holds 20%

** CK Asset gains 1.6%, Power Assets climbs 1.3% and CK Hutchison adds 0.3%

($1 = 0.8024 pounds)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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