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.

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 Kong Infrastructure and Power Assets have reached out to about 20 relationship banks, including major Japanese lenders for financing terms. It's a beauty contest of sorts, said one of the sources. They want some competition...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222