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first_img whatsapp whatsapp KCS-content E.ON is close to selling its UK power grid arm Sunday 27 February 2011 11:51 pm Sharecenter_img Tags: NULL Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald CHINESE billionaire Li Ka-shing is close to winning control of E.ON’s UK distribution business after a bid of more than £3.5bn, City A.M. can confirm. Li’s investment group Cheung Kong Infrastructure is thought to have outbid PPL Corporation, the power producer that bought E.ON’s US business last November for $7.6bn (£4.7bn). Li’s offer is thought to be more than £3.5bn, and could be announced in the next week if Germany-based E.ON accepts, said a source familiar with the sale.Li bought French power firm EDF’s UK networks last July for £5.8bn, using CKI and other subsidiaries including the Li Ka-Shing Foundation. He also owns stakes in Northern Gas Networks, Southern Water and retailer Superdrug.E.ON put its UK power grid up for sale late last year as part of its plan to dispose of €15bn (£12.8bn) of assets by the end of 2013 in order to reduce debts. The UK business delivers power to more than 5m customers across the Midlands.A spokesperson for E.ON declined to comment, while Cheung Kong Infrastructure and PPL Corporation could not be reached yesterday. last_img read more

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