Sir Li Ka-Shing set to bid for EDFs British energy lines

Robin Pagnamenta, Energy Editor & ,}

Sir Li Ka-Shing is putting the last touches to a 4 billion-plus bid for EDFs British physical phenomenon placement business.

EDF has invited last bids for the unit, that includes appetite links to Heathrow and Gatwick, the London Underground network and mainline London rail stations, by the finish of this month.

The Hong Kong billionaire, the worlds sixteenth wealthiest man, is creation the bid by his Cheung Kong Infrastructure (CKI) Holdings, that owns 40 per cent of Hong Kongs main appetite era business.

Two alternative consortiums Scottish and Southern Energy with the Canadian infrastructure account Borealis, and the Abu Dhabi Investment Authority with Macquarie Capital and Canada Pension Plan are still thought to be in the running. Both declined to criticism yesterday.

The sale of the UK appetite commercial operation is approaching to fetch 4 billion to 4.5 billion for EDF, that is tranquil by the French state.

A leader could be voiced subsequent month, if the cost is high enough.

EDF, the worlds greatest chief generator of electric power of electric power with 58 reactors in France, pronounced in Oct it would sell the UK wires commercial operation to cut the €42.5 billion (36.6 billion) of debt outset from acquisitions in 2008, together with British Energy, the chief generator.

The placement commercial operation includes 100,000 miles of cables opposite eastern England, London and the South East and conveys about twenty per cent of the UKs appetite supply.

EDF Energy, the UK arm, is the countrys greatest generator, producing about twenty-eight per cent of the countrys electricity. It has about 7.8 million customers.

EDF is being suggested on the sale by BNP Paribas and Deutsche Bank.

CKI is on an general enlargement expostulate and is deliberation about ten acquisitions. It not long ago paid BG 212 million for 50 per cent of Seabank Power, the healthy gas producer.