UPDATE 1-Hong Kong's CK Group to buy Northern Ireland natgas distributor for $945 mln

Reuters04-25

(Updates with details of acquisition throughout)

April 25 (Reuters) - A consortium of Hong Kong's CK Infrastructure , CK Asset , and Power Assets

will acquire a Northern Ireland gas distribution network operator, Phoenix Energy for an enterprise value of HK$7.4 billion ($945.3 million).

The consortium will acquire Lionrai Investments No.1, which owns Phoenix Energy, from NatWest Group Pension Fund and Utilities of Australia International, the group said in a statement on Wednesday.

CK Infrastructure, billionaire Li Ka-shing's infrastructure flagship and his property arm, CK Asset, will each hold 40% in the consortium, while utility investment unit Power Asset will own the remaining 20% stake.

Phoenix Energy, situated in Belfast, Northern Ireland, owns and operates the largest natural gas distribution network in the country, according to its

website

, covering 78% of gas connections in Northern Ireland and providing services to 48% of the population.

($1 = 7.8280 Hong Kong dollars)

(Reporting by Sameer Manekar in Bengaluru; Editing by Mrigank Dhaniwala and Eileen Soreng)

((Sameer.Manekar@thomsonreuters.com; Twitter: ))

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The consortium will acquire Lionrai Investments No.1, which owns Phoenix Energy, from NatWest Group Pension Fund and Utilities of Australia International, the group said in a statement on Wednesday.       CK Infrastructure, billionaire Li Ka-shing's infrastructure flagship and his property arm, CK Asset, will each hold 40% in the consortium, while utility investment unit Power Asset will own the remaining 20% stake.       Phoenix Energy, situated in Belfast, Northern Ireland, owns and operates the largest natural gas distribution network in the country, according to its    website   , covering 78% of gas connections in Northern Ireland and providing services to 48% of the population.($1 = 7.8280 Hong Kong dollars) (Reporting by Sameer Manekar in Bengaluru; Editing by Mrigank Dhaniwala and Eileen Soreng)((Sameer.Manekar@thomsonreuters.com; Twitter: ))","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430449823"}