Li Ka-shing buys Dutch waste firm for $1.3 billion

Li Ka-shing buys Dutch waste firm for $1.3 billion
Li Ka-shing

Li Ka-shing continued his run of overseas acquisitions on Monday with the purchase of a private Dutch waste-processing firm for €943.68 million (HK$9.77 billion).

Li Ka-shing’s flagship firm, Cheung Kong Holdings, and affiliated companies, said in a statement that they have bought Rotterdam-headquartered RAV Water Treatment.

“[The purchase] reflects CKH’s strategy to embrace new growth opportunities through diversification and globalisation,” the company said in the statement.

The Hong Kong-based tycoon has added other notable assets to his portfolio in recent years including: New Zealand-based EnviroWaste Services Ltd for $421 million earlier this year; in the UK, Wales & West Utilities for $3.04 billion last year, as well as Northumbrian Water in 2011 for $7.6 billion, according to data provider Dealogic.

Credit Suisse advised the Dutch company while HSBC advised the buyers.

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