Billionaire Li Ka-Shing Bids $5.4 Billion for Australia’s Duet

Updated on
  • Cheung Kong Infrastructure offers A$3 per share in cash
  • CKI may need local partner to secure Australia’s approval: RBC

Billionaire Li Ka-shing.

Photographer: Justin Chin/Bloomberg

Hong Kong billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. offered A$7.3 billion ($5.4 billion) in cash for Australia’s Duet Group as it seeks to expand its power and gas pipeline assets.

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