By Chester Yung 
 

HONG KONG--A joint venture led by Cheung Kong Infrastructure Holdings Ltd. (1038.HK) has completed the GBP2.5 billion ($3.8 billion) acquisition of the U.K.-based Eversholt Rail Group.

CKI, which is controlled by Hong Kong tycoon Li Ka-shing, called the acquisition of Eversholt "a quality investment" because it is well managed and profitable.

"Having always enjoyed high levels of passenger fleet utilization and currently operating at a utilization rate of 100%, this company is poised to immediately deliver strong and recurrent cash flow, generating a stable and predictable return for CKI," CKI said.

The joint venture that acquired Eversholt includes CKI and Cheung Kong (Holdings) Ltd. Each own a 50% interest, CKI said.

Currently, CKI's transportation infrastructure portfolio includes Park'N Fly, the largest off-airport parking lot provider in Canada with facilities in Toronto, Vancouver, Montreal, Edmonton and Ottawa; as well as about 280 kilometers of toll roads and bridges in China, the company said.

Write to Chester Yung at chester.yung@wsj.com

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