--- title: "Hong Kong’s 2nd richest man Li Ka-shing to sell UK electricity operator for $14B" description: "CK Group, led by Victor Li, is selling U.K. Power Networks to French utility Engie for GBP10.5 billion (US$14.2 billion) as part of a business restructure. The deal, expected to close by mid-2026, aim" type: "news" locale: "en" url: "https://longbridge.com/en/news/277279869.md" published_at: "2026-02-28T07:06:02.000Z" --- # Hong Kong’s 2nd richest man Li Ka-shing to sell UK electricity operator for $14B > CK Group, led by Victor Li, is selling U.K. Power Networks to French utility Engie for GBP10.5 billion (US$14.2 billion) as part of a business restructure. The deal, expected to close by mid-2026, aims to enhance CK Hutchison's financial leverage and support future acquisitions. This sale is part of a broader strategy to divest assets amid changing market conditions. Engie's acquisition will bolster its U.K. presence, serving 8.5 million customers. Li Ka-shing, now Hong Kong's second richest man, has a net worth of $46.6 billion. CK Infrastructure Group said it expects to sell U.K. Power Networks to French utility Engie for GBP10.5 billion (US$14.2 billion), according to a stock exchange filing on Thursday, as reported by *South China Morning Post.* Hong Kong's richest man Li Ka-shing (R), listens to his son Victor during a press conference in Hong Kong on March 16, 2018. Photo by AFP The transaction, which is expected to be completed in mid-2026, forms part of a broader overhaul of the conglomerate’s portfolio, including asset disposals, in moves that could ultimately recast the empire established by Li Ka-shing, according to *Bloomberg*. The tycoon built his fortune by targeting regulated infrastructure and telecommunications assets in developed Western markets, favoring stable and predictable returns. Since taking the helm in 2018, his elder son Victor has faced the challenge of guiding the group through a more volatile environment shaped by heightened trade tensions and the disruptive rise of artificial intelligence. "From a credit perspective, the deal is positive as it could improve CK Hutchison’s leverage by as much as 0.5x and gives the company firepower to pursue acquisitions," said *Bloomberg Intelligence* credit analyst Sharon Chen. CK Hutchison is also weighing a listing of its health and beauty retailer AS Watson Group. The U.K. power sale comes as the company’s proposed divestment of 43 global ports has become more complicated. Panama this week moved to occupy two of CK Hutchison’s facilities near the Panama Canal, assets that have emerged as a flashpoint in U.S.-China tensions. Negotiations with a buyer consortium that includes U.S. investment firm BlackRock and China Cosco Shipping have stretched on for months, highlighting the political sensitivities surrounding the deal. For Engie, the acquisition strengthens its presence in the U.K. as the country accelerates efforts to expand its grid to accommodate rising demand from renewable energy, electric vehicles and data centers. The company will take control of a regulated asset serving about 8.5 million customers in London and southeast England. Li Ka-shing, 97, is now the second richest man in Hong Kong with a net worth of $46.6 billion, behind battery tycoon Robin Zeng with wealth of $53.6 billion. ### Related Stocks - [ENGIY.US - ADOMANI](https://longbridge.com/en/quote/ENGIY.US.md) - [562550.CN - ChinaAMC Green Electricity ETF](https://longbridge.com/en/quote/562550.CN.md) - [00001.HK - CKH HOLDINGS](https://longbridge.com/en/quote/00001.HK.md) - [560190.CN - Penghua CSI All Share Utilities ETF](https://longbridge.com/en/quote/560190.CN.md) - [CKHUY.US - CK Hutchison Holdings](https://longbridge.com/en/quote/CKHUY.US.md) - [XLU.US - Select Sect Spdr Util](https://longbridge.com/en/quote/XLU.US.md) - [VPU.US - VG Utilities](https://longbridge.com/en/quote/VPU.US.md) - [561700.CN - Bosera CSI All Share Electric Utilities ETF](https://longbridge.com/en/quote/561700.CN.md) - [JXI.US - ISHRS S&P Glb Utilities](https://longbridge.com/en/quote/JXI.US.md) - [159611.CN - GF CSI All Share Power Public Service ETF](https://longbridge.com/en/quote/159611.CN.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 中電去年少賺 11% 澳洲業務倒退 86% 全年股息增 1.6% | 中電（002）公佈去年總盈利 104.68 億元，按年下跌 10.8%。第四期中期股息每股 1.31 元，按年增 4%，全年總派息每股 3.2 元，按年升 1.6%。香港能源業務盈利增 7.1%，但澳洲業務大跌 85.6%。內地盈利下跌 1 | [Link](https://longbridge.com/en/news/276983383.md) | | 【每日通告】巴拿馬撤銷長和 (1) 旗下港口特許經營權，愛德新能源 (2623) 斥 2.18 億港元收購澳洲黃金生產商股權 | 巴拿馬最高法院裁決撤銷長和旗下港口的特許經營權，APM 接手管理。愛德新能源以 2.18 億港元收購澳洲黃金生產商近 10% 股權。星凱控股預計中期虧損收窄至 1200 萬至 1800 萬元。中國建築興業發盈警，預計全年純利大跌至 2.37 | [Link](https://longbridge.com/en/news/276676381.md) | | 法國公用事業公司 Engie 公佈 2025 財年淨收入和營業收入下降 | 法國公用事業公司 Engie 發佈 2025 財年淨收入和收入下降的報告 | [Link](https://longbridge.com/en/news/276997211.md) | | Nebras Energy 宣佈收購 Engie 在卡塔爾電力和 Ras Girtas 電力中的全部股份 | Nebras Energy 宣佈收購 Engie 在卡塔爾電力和拉斯吉爾塔斯電力的全部股份 | [Link](https://longbridge.com/en/news/277089196.md) | | Engie 首席執行官表示，Engie 收購英國電力網絡不會影響我們的股息政策，也不會影響我們穩健的投資評級 | Engie 首席執行官：Engie 收購英國電力網絡不會影響我們的分紅政策，也不會影響我們強勁的投資評級 | [Link](https://longbridge.com/en/news/276929587.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.