Shares of Northumbrian Water have today been delisted from the London Stock Exchange, following a £2.41 billion acquisition by a Hong Kong company.
UK Water, a consortium led by Cheung Kong infastructure Holdings Ltd, offered a deal that valued Northumbrian Water shares at 465 pence, which was given shareholder approval on September 19.
As the take-over is formalised, few changes to normal operations are expected at the Durham based company.
CKI owns two of Hong Kong’s main electricty suppliers, but has increasingly looked to invest overseas as opportunities for expansion at home have become limited.
Recently, the company sold Cambridge Water to HSBC for £75 million, in a strategic manoeuvre ahead of the Northumbrian Water deal that aimed to avoid referral to the Competition Commission.
Headed by octogenarian billionaire Li Ka-shing, who is Asia’s richest man, CKI has significantly boosted its profits through UK electricity assets in recent years.