A £15 billion ($18 billion) takeover approach for UK Power Networks led by KKR & Co has collapsed after one of the firm’s joint owners attempted to hike the sale price, according to a report by The Financial Rimes.
KKR was leading a binder group which also included Macquarie Group Ltd, APG, China Investment Corp, Ontario Teachers’ Pension Plan Board and PSP Investments.
UK Power Networks, which is owned by Hong Kong tycoon Victor Li’s CK Infrastructure and fellow group companies Power Assets Holdings Ltd. and CK Asset Holdings Ltd, controls and maintains electricity cables across London and other regions of England, serving about 8.3 million homes.
Read more: Private Equity Wire
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