Chinese-led consortium to land new acquisition in Australia
A consortium led by Hong Kong-based Cheung Kong Infrastructure (CKI) has received an approval from Australia’s Foreign Investment Review Board (FIRB) to acquire Duet Group, an operator of energy utility businesses, for $5.2 billion.
Duet Group owns and operates energy utility assets in Australia, the United States, the United Kingdom and Europe, including power generation facilities and distribution networks, reports Energy Business Report.
The company added that the approval is not subject to any conditions that the CKI-led consortium considers to be unacceptable.
The transaction, which is scheduled to be completed by mid-May 2017, is still subject to approval by DUET’s Security holders.