Cheung Kong Holdings and Cheung Kong Infrastructure, two companies controlled by the octogenarian Hong Kong tycoon, are buying Canadian airport parking business Park 'N Fly from a group of private owners.
The CKH and CKI joint venture is paying C$348m for the business, whose staff look after travellers' cars after they arrive at the airport. Park' N Fly's Canadian operations are in Toronto, Montreal, Edmonton, Ottawa and Vancouver.
Like many Hong Kongers, Mr Li has long had a soft spot for Canada. His Hutchison Whampoa unit has a stake in Calgary energy company Husky Oil while CKI has stakes in Canadian power plants.
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