CKI, CKA get EU nod to buy UK wind farm assets from Aviva

The European Commission (EC) today cleared an agreement reached by CK Infrastructure Holdings Ltd (HKG:1038) and CK Asset Holdings Ltd (HKG:1113) to acquire some of the onshore wind assets owned by British insurer Aviva Plc's (LON:AV) asset-management arm in the UK.

The EU merger regulator has ruled that the proposed deal does not raise competition concerns, given the limited impact on the European Economic Area, it said in a press statement.

The examined transaction concerns the acquisition of several entities, such as Minnygap Energy Limited, Den Brook Energy Limited, Turncole Wind Farm Limited, Jacks Lane Energy Limited, Woolley Hill Electrical Energy Limited, Medium Scale Wind No 1 Limited, and Medium Scale Wind No 2 Limited.

The GBP-350-million (USD 458.1bn/EUR 415.3bn) deal was agreed upon in mid-August and concerns 32 operating onshore wind farms with a combined installed capacity of 175 MW, or 137 MW in net attributable capacity, according to a Bloomberg report at the time.

CKI’s subsidiary Power Assets Holdings Ltd, is also said to be part of the buying group. CK Asset Holdings and Power Assets will each get a shareholding of 40% and 20%, respectively, in the UK portfolio, according to the report.

(GBP 1 = USD 1.309/EUR 1.187)

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