HK Chinese tycoon to buy Swedish electricity grid

Bloomberg reported that Fortum’s sale of its Swedish electricity grid is drawing interest from bidders including billionaire Li Ka-Shing’s Cheung Kong Infrastructure Holdings Ltd and Canadian pension investor Borealis Infrastructure Management.

Photo: Yle

Photo: Yle

The deal may be valued at 4 billion euros ($5.54 billion) to 5 billion euros, according to people familiar with the process.

Cheung Kong Infrastructure, a Hong Kong-based company controlled by Asia’s richest man, already owns power and water networks in the U.K. and Australia.

Read more: Swedish Wire

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