Northern Ireland's largest gas distributor to be acquired for £750m

Reports indicate that Phoenix Energy, the leading gas distributor in Northern Ireland, is on the verge of being acquired by a group of investors.

According to Bloomberg, the consortium which includes CK Infrastructure Holdings from Hong Kong, has agreed to purchase the gas operator for a substantial sum of £756m ($945m).

CK Infrastructure Holdings is renowned as the largest publicly listed infrastructure company in Hong Kong, with investments spanning energy, transport, and water infrastructure.

The consortium comprises CK Asset Holding and Power Assets Holdings, a vertically integrated electric utility company headquartered in Hong Kong.

Notably, Power Assets holds a majority stake of 60% in the consortium, while CK Infrastructure and CK Assets hold the remaining shares.

Since its establishment in 1996, Phoenix Energy has been operating Northern Ireland's most extensive natural gas distribution network, serving over 250,000 customers.

Read more: Northern Ireland gas distributor Phoenix Energy to be sold for £750m