Loan sought as Li Ka-shing readies Swedish bid

Cheung Kong Infrastructure and Power Assets reach out to relationship lenders for potential $5b-$6b loan to fund bid for Fortum's Swedish assets.

Loan sought as Li Ka-shing readies Swedish bid

Cheung Kong Infrastructure and Power Assets, both controlled by Hong Kong tycoon Li Ka-shing, have reached out to lenders to back a joint bid for Fortum’s Swedish power grid, according to two sources familiar with the matter.

Finland's Fortum is auctioning off its Swedish power distribution assets and had sent out an information memorandum to potential buyers in November. The non-binding bids are due on December 15.

To back its bid, Cheung...

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