Li Ka-shing’s infrastructure business has offered to buy out minority shareholders in a utilities subsidiary through a $12.2bn deal that further simplifies the Asian billionaire’s empire and frees up cash for fresh expansion.
The offer topped a flurry of big deals in Asia-Pacific yesterday and pushed the region’s dealmaking total past $700bn for only the second time on record, according to Dealogic. More than $100bn of the region’s overall volume this year is attributable to Mr Li.
Earlier yesterday, regional merger volumes were boosted by the $5.3bn offer by Japan’s MS & AD Insurance
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