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Bond Market News
CK Group Consortium to Sell UK Power Networks for $14.2bn to Engie
February 26, 2026
A consortium of CK Infrastructure Holdings, CK Asset Holdings and Power Assets Holdings has agreed to sell its entire stake in UK Power Networks to French utility Engie for £10.5bn (~$14.2bn). The Hong Kong-listed group said the disposal allows it to monetise a long-held investment at an attractive valuation, generating a substantial accounting gain and significant cash proceeds that can be redeployed into new investments or acquisitions. UK Power Networks, acquired by the CK Group in 2010 for £5.77bn ($7.8bn), is one of UK’s largest electricity distribution operators. Ownership was split 40% each between CK Infrastructure and Power Assets, and 20% held by CK Asset. The Chairman Victor Li, said that the group will continue to seek opportunities in regulated infrastructure and other businesses offering stable long-term returns across existing and new markets. Engie’s CEO Catherine MacGregor described the acquisition as a key step in advancing its strategic priorities and expanding its operations.
CK’s bonds traded stable with its 4% Perp at 72.8, yielding 5.5%.
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