Deals
Li Ka-Shing Group Buys Portugal's Iberwind for $324 Million
- Iberwind's 31 plants account for 15% of Portugal's wind market
- Li is richest man in Hong Kong, 18th wealthiest in world
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A joint venture controlled by Hong Kong billionaire Li Ka-Shing agreed to buy the Portuguese wind-farm developer Iberwind Group in a deal worth as much as 288 million euros ($324 million), the purchasers said Friday in a regulatory filing.
Li’s Power Assets Holdings Ltd and his Cheung Kong Infrastructure Holdings Ltd each own half of the venture, according to a filing with the Hong Kong Stock Exchange. Iberwind is owned by the Spanish-Portuguese venture capital firm Magnum Capital Industrial Partners. The deal is subject to regulatory approvals.