Asia Global Energy Solutions-Man will pay US$1.3b for Dutch waste firm

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Chicago, IL

#1 Jun 18, 2013
HONG KONG: Cheung Kong (Holdings) Ltd, controlled by Asia's richest man Li Ka-shing, said it will buy Dutch waste processing firm RAV Water Treatment I B.V. for 943.68 million euros (US$1.26bil), in an overseas expansion drive that has targeted infrastructure assets offering steady recurring income.

Li's business empire, which spans property, telecoms, and ports and retailing, has been seeking stable investment opportunities in well-regulated markets outside of Hong Kong, where its opportunities for expansion are becoming limited.

Other partners in the acquiring consortium include Hutchison Whampao Ltd's Cheung Kong Infrastructure Holdings Ltd, Power Assets Holdings Ltd and Li Ka Shing Foundation Ltd.

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