CKI Is Said to Drop Pursuit of National Grid’s LNG Terminal

CK Infrastructure Holdings Ltd. has pulled out of the bidding for a UK liquefied natural gas terminal valued at about £2 billion ($2.7 billion), according to people familiar with the matter.

The Hong Kong-based company was in the process of negotiating final terms of a deal for National Grid Plc’s Grain LNG facility and an agreement was expected in the coming days, Bloomberg News reported last week. CKI was competing with a consortium led by Ontario Municipal Employees Retirement System and about 20 parties initially expressed interest in the asset.