Li Ka Shing

Recently, an auction took place for the private power networks from EDF and three power distribution grids. These were the assets of a company in France named EDF. EDF is considered to be the second largest utility of the world.

The auction was won by a duo, Hong Kong Electric (ECI) and Cheung Kong Infrastructure (CKI). The news about the sale will be announced in Paris. The announcement will be made on Friday when EDF will also be announcing the first half results.

CKI announced that their decision will be announced at 5:30 am of British time. The companies that managed to win the auction are run by a man named Li Ka Shing. He is a very renowned personality as he is considered to be one of the richest men of Asia.

This investment is historical as according to the reports it is one of the hugest North East Asian investments in Europe. The whole investment is of more than $5.5 billion pounds. A lot of things about the deal are still being kept confidential and no one knows about them.

The people involved in the whole dealing refuse to give any further details. EDF is responsible for distributing electricity to about 7.8 million customers. Most of the Europeans are investing money in the form of billions of Euros for the construction of new power plants.

The whole investment is actually a long term contract. Everyone involved in the deal will get benefit and the whole thing is in the favour of everyone.