CKI, CKA's acquisition gets the green light

A proposal by CK Infrastructure (1038) and CK Asset (1113) to acquire North Ireland's largest natural gas company Phoenix Energy and its UK subsidiaries has been approved by the European Commission.

The commission said the transaction would not raise competition concerns, given the limited impact on the European Economic Area. Earlier documents show that CKI and CKA will likely have joint control of Phoenix Energy.

There are currently three gas firms in Northern Ireland, of which Phoenix Energy owns the largest gas distribution network covering half the population of Northern Ireland with a valuation of 757 million (HK$7.37 billion) in 2022.

Staff reporter