CMS Cameron McKenna and Linklaters are advising on Hong Kong tycoon Li Ka-shing’s latest billion-dollar business acquisition in the United Kingdom.
Li-controlled Cheung Kong Holdings Ltd., Cheung Kong Infrastructure Holdings Ltd., Power Assets Holdings and charity fund Li Ka Shing Foundation Ltd., have agreed to pay $1 billion for the U.K. gas-distribution company MGN Gas Networks (U.K.) Ltd., which owns U.K. gas distributor Wales & West Utilities Ltd.
The deal is subject to European Commission approval, and is expected to close by the end of September.
