Li Ka-shing Sheds Key UK Power Asset in Makeover for New Era

CK Group has agreed to sell the UK’s largest power-distribution network for £10.5 billion ($14.2 billion), as Hong Kong billionaire Li Ka-shing accelerates divestment efforts to insulate his empire from geopolitical risk.

The sale of UK Power Networks to French utility Engie SA comes as the Li family’s flagship conglomerate CK Hutchison Holdings Ltd. reshapes its business by selling assets and spinning off units in sectors ranging from ports to drugstores.