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Billionaire from Hong Kong fastens his eyes on Australian Energy Firm

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Billionaire from Hong Kong fastens his eyes on Australian Energy Firm

Hong Kong’s Cheung Kong Infrastructure Holdings made a A$7.3 billion, that is $5.4 billion, bid for Duet Group, an Australian energy giant, the Fortune reports on the 5th of December.


At present, the Board of Director of Duet is considering the offer. Meanwhile, recently, in August, the Government of Australia declined a bid made by Hong Kong billionaire Li Ka-Shing’s CKI for a controlling stake of state-owned energy grid Ausgrid. The offer was totaling to A$10 billion.

According to the available information, Duet received an “an unsolicited, indicative, incomplete, non-binding and conditional proposal” of A$3 per share in cash, a 28% premium to its last trade on Friday.

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