Skip to content
Subscriber Only

Li Ka-shing's Son Makes Family's Biggest Ever Overseas Acquisition Bid

  • If completed, APA would mark Li’s 1st big deal as CK chairman
  • Acquisition still subject to regulatory approvals in Australia
Bloomberg business news
Bloomberg’s Prudence Ho reports on CK Group’s bid for APA Group.(Source: Bloomberg)
Updated on

Victor Li, who succeeded his billionaire father last month as head of the CK group of companies, began his tenure with a A$13 billion ($9.8 billion) bid for Australian gas pipeline operator APA Group, the Hong Kong-based conglomerate’s biggest overseas acquisition.

The cash offer, split among CK Asset Holdings Ltd., CK Infrastructure Holdings Ltd. and Power Assets Holdings Ltd., was 33 percent higher than APA’s closing price on Tuesday. APA shares closed 21 percent higher in Sydney at A$10, a record gain but shy of the A$11-a-share bid.