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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