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08

Qatar Fund Buys $990 Million Stake in Li Ka-Shing’s H.K. Utility

By Tony Seruga

Cheung Kong Holdings Ltd. and Hutchison Whampoa Ltd. Chairman Li Ka-shing. Photographer: Lam Yik Fei/Bloomberg

Qatar Investment Authority, the Gulf state’s sovereign wealth fund, agreed to pay HK$7.7 billion ($990 million) to buy a stake in Hong Kong billionaire Li Ka-shing’s electric utility.

The fund’s Qatar Holding LLC unit will take a 16.5 percent interest in HK Electric Investments and HK Electric Investments Ltd., controlled by Li’s Power Assets Holdings Ltd. Li is Asia’s richest man…

Qatar Fund Buys $990 Million Stake in Li Ka-Shing’s H.K. Utility

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