According to foreign media, the CK Group consortium, which includes Hong Kong-based CK Infrastructure Holdings Ltd., CK Asset Holdings Ltd. and Power Assets Holdings Ltd., has officially agreed to acquire Phoenix Energy, the largest gas distributor in Northern Ireland. According to the consortium's statement, the total amount of the transaction is estimated at 7.4 billion Hong Kong dollars ($945 million). The value of the enterprise consists of the cost of equity in the amount of $389.6 million and net debt in the amount of $555.4 million.
The consortium will acquire Lionrai Investments No.1, which owns Phoenix Energy, from the NatWest Group pension fund and Utilities of Australia International.
The completion of the Phoenix Energy takeover deal is expected by the end of April.
Phoenix Energy, founded in 1996, is the operator of the largest gas distribution network in Northern Ireland, serving over 250,000 customers.
According to the data published on the GOV portal.UK, Lionrai Investments No.1 was registered in England in 2013.
CK Infrastructure and CK Asset each own 40% of the shares of the CK Group consortium, the remaining 20% belong to Power Assets.
