Hong Kong fund leads chase for CPPIB-backed metering firm Ista: Reuters
Hong Kong's CK Infrastructure is seen as the front-runner to buy German metering and energy management group Ista for more than 4.5 billion euros (US$5.2 billion), sources told Reuters. CKI made a binding offer for private equity-owned Ista on Tuesday, while two consortiums considered strong contenders refrained from making final bids, the sources said. Canada Pension Plan Investment Board, which already owns a minority stake in Ista and had tied up with Blackstone Group to buy the whole company, was one of the contenders to hold back, as was a consortium of Ontario Teachers' Pension Plan and Brookfield Asset Management. Owner CVC Capital Partners is expected to choose a buyer this week.
25 July 2017•2 mins read
