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Macquarie, KKR in Talks to Buy UK Power Networks – FT

A proposed joint deal, backed by other investors including Canada’s Ontario Teachers’ Pension Plan, could value the business at about $20 billion


Australia will lose 60% of its coal-fired electricity capacity by 2030, the national market operator said on Thursday.
AEMO said more than A$12.8 billion ($8.8 billion) should be urgently spent on five key projects to create new transmission lines to accommodate a rapid increase in renewables. File photo: Reuters.

 

US-based KKR and Australia’s Macquarie Group have held talks to buy Britain’s largest electricity distributor, UK Power Networks, from companies controlled by Hong Kong’s billionaire Li family, the Financial Times reported.

A proposed joint deal, backed by other investors including Canada’s Ontario Teachers’ Pension Plan, could value the business at about 15 billion pounds ($20 billion) and provide a fresh sign of private equity’s appetite to buy into UK infrastructure.

Read the full report: Financial Times

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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