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<Research>Daiwa: CKA Consortium Buys Phoenix Energy at $7.4B; Small Deal but Good
Recommend 9 Positive 24 Negative 13 |
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In a research report issued by Daiwa, CK ASSET (01113.HK) consortium's acquisition of the entire interest in Phoenix Energy Group, a gas distribution network in Northern Ireland, is expected to be completed by the end of April 2024. The acquisition has a enterprise value (EV) of GBP757 million, or about HKD7.4 billion. The broker said the transaction is small but a fair one, making it a good deal, justifiably lifting street consensus for higher DPS from CKI HOLDINGS (01038.HK) for 2024. The broker rated CKI as Buy. AAStocks Financial News |
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