BNP predicts the profit from selling Powercor to reach HK$430 mln

BNP said that the retail business of Powercor together with the profit division and service agreement could bring AU$94 mln (circa HK$430 mln) to Cheung Kong Infrastructure (1038) and Hongkong Electric Holdings (0006) in 8 months.The fund house also pointed out that the cost of acquiring the Powercor retail business was AU$232 mln, about 10% of that of last year. The sale of Powercor retail business for AU$315 mln by the joint venture, whose shareholding was equally held by Cheung Kong Infrastructure and Hongkong Electric, was estimated to bring AU$83 mln. The profit division and service agreement were estimated to bring extra AU$11 mln.

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