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HK tycoon Li Ka-shing to acquire Northumbrian Water
3 August 2011: Hong Kong tycoon Li Ka-shing acquires British utility Northumbrian Water Group for £2.4 billion ($3.9 billion).
Li has been expanding his business empire buying utility assets in developed countries, especially Britain where regulations allow for foreign ownership and price controls ensure a steady and predictable income stream from dividends.
Shares of Li’s Cheung Kong Infrastructure Holdings (CKI), which is leading the bid for Northumbrian Water, rose three per cent to a record closing high.
Source: Business Standard