2024-05-02 Squarefoot Editor
The European Commission has given the green light to a proposal by CK Infrastructure (1038) and CK Asset (1113) for the acquisition of Phoenix Energy, the largest natural gas company in Northern Ireland, along with its UK subsidiaries.
The Commission confirmed that the transaction poses no competition issues, citing its minimal impact on the European Economic Area. According to earlier reports, CK Infrastructure and CK Asset are expected to take joint control of Phoenix Energy.
Phoenix Energy stands out in Northern Ireland's energy market as it operates the largest gas distribution network, servicing half of the population. The company was valued at 757 million (HK$7.37 billion) in 2022, making it a significant player among the three gas firms in the region.
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