Li Ka-shing sweetens bid for Power Assets

Li Ka-shing’s Cheung Kong Infrastructure CKI sweetened its offer to buy the 61.13% of Power Assets Holdings PAH it doesn’t already own, as it steps up efforts to ensure minority investors will approve the proposed merger.

The merger of the two Hong Kong-listed companies is Li’s latest manoeuver in the reorganisation of his business empire to release value, following the high-profile restructuring of his flagship Hutchison Whampoa and Cheung Kong Holdings in January.

The reshuffle put the Hong Kong tycoon's property assets into a newly created firm, Cheung Kong Property Holdings, while his non-property assets including ports, energy, infrastructure, telecoms and retail units belong to CK Hutchison...