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

One Comment on “HK Chinese tycoon to buy Swedish electricity grid”

  1. Yes! Soon every state owned company (now owned by its citizens) will be foreign own. Scary that even the energy section will be more in the hands of foreigners living outside Sweden.
    I am neither communist or real socialist but I think we should be very observant for the coming elections in September.
    Our kids are not equipped with skills when leaving schools.
    Our youngsters do not get jobs.
    Our elderly do not get decent last years of their lives.
    Our healthcare is worse than ever unless you can buy yourself private care. What is the future of Sweden ?

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