Ka-Shing swoops on Cambridge
- From: Vol 5, Issue 5 (May 2004)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: Cambridge Water, Cheung Kong Group, Macquarie Bank, Mid Kent Water, Northumbrian Water, Shearman & Sterling, Société Générale, South East Water and Union Fenosa
Hong Kong’s property tycoon has paid the full price for Cambridge Water. What is in it for him?
Predictions that the UK water sector would not see any takeover activity in 2004 proved wrong at the end of April, when Spanish power company Union Fenosa sold Cambridge Water to the infrastructure investment arm of Lee Ka-Shing’s Cheung Kong Group for just over £56 million.
Cheung Kong Infrastructure Holdings made a direct approach to Union Fenosa about two ...
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