CK group agrees to sell UK electricity operator for US$14.2 billion
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CK Infrastructure Holdings, CK Asset Holdings, and Power Assets Holdings have agreed to sell UK Power Networks to Engie for £10.5 billion (US$14.2 billion). This sale will allow the CK group to realize a significant accounting gain and generate cash for future investments. UK Power Networks, which serves 8.3 million consumers, was acquired by the CK group in 2010 for £5.77 billion. The group aims to pursue further investment opportunities in regulated industries and other promising markets.
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