Infrastructure acquisition gambles on smart metering

By Mike Hayes01 August 2017

Li ka shing cka

Billionaire Hong Kong businessman Li Ka-shing

A consortium led by Cheung Kong Infrastructure (CKI) Holdings is set to acquire German energy and water metering firm Ista, in a deal reportedly worth US$5.3 billion.

If the deal goes through, CKI – with its joint venture partner Midco 5 – will be celebrating its second multi-billion-dollar acquisition of the year, having already paid US$5.8 billion for Australian pipeline operator and power distributer Duet Group.

The move shows the firm – part of CK Hutchinson, which is controlled by the Hong Kong billionaire Li Ka-Shing – is willing to bet on the increasing adoption of smart metering technology.

The gamble seems a reasonable one, given that governments across Europe are proposing to step up reductions in energy usage and cut greenhouse gases. The EU has promised a directive, requiring member countries to reduce their energy use by as much as 30% by 2030.

Last year, Ista reported EBITDA of €370 million (US$437 million), on sales of €850 million (US$1 billion).

 

 

Latest News
Safe and Sound with the NDA
US National Demolition Association’s week long nationwide event starts on 15 August
Deutz grows its PowerTree
German engine maker receives its first large order for mobile rapid charging stations
Tech partnership to reduce accident rates in construction
The partnership aims to increase the level of safety in construction in Singapore