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Cheung Kong Infrastructure Proposes To Buy EDF Units For About GBP 5.78 Bln - Quick Facts
(RTTNews) - Cheung Kong Infrastructure Holdings Lld., Hongkong Electric Holdings Ltd., and Li Ka Shing Foundation Ltd. and Li Ka Shing (Overseas) Foundation announced a formal offer to acquire a group of companies engaging in the business of electricity distribution in the United Kingdom from EDF Energy Plc and CSW Investments. Cheung Kong noted that offer price consideration for the target companies is approximately GBP 5.78 billion.
Cheung Kong noted that the offer shall remain open for acceptance until the date falling 90 calendar days from July 26, 2010, being 24 October, 2010.
Shares of Cheung Kong and Hongkong Electric, which were suspended from trading in Hong Kong Stock Exchange from 9:30 a.m. pending publication of this announcement, are expected to resume with effect from 2:30 p.m.
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