李嘉诚，千亿清仓

Core Viewpoint - Li Ka-shing's company has executed a significant transaction by selling its 100% stake in UK Power Networks for over HKD 110 billion, marking a strategic divestment after 16 years of ownership [1][5]. Group 1: Transaction Details - The sale involves three companies under Li Ka-shing's Cheung Kong Group: Cheung Kong Infrastructure, Power Assets Holdings, and CK Hutchison, which held 40%, 40%, and 20% stakes in UK Power Networks, respectively [4]. - The selling prices for the stakes were HKD 443 billion for each of the first two companies and HKD 221.5 billion for the latter [4]. - The total cash received from the transaction exceeds HKD 110 billion [5]. Group 2: Historical Context and Financial Performance - UK Power Networks has been owned by Li Ka-shing for 16 years and is recognized as a critical asset in the UK, being the largest distribution network [6]. - When acquired in 2010, the enterprise value was GBP 57.75 billion and the equity value was GBP 25.53 billion; the projected enterprise value at the completion of the sale in 2026 is GBP 168.38 billion [6]. - The company has provided GBP 4.4 billion in shareholder distributions over the years, yielding a total cash return of over six times the initial investment [6]. Group 3: Strategic Implications - The buyer, Engie, is a major French energy company operating in 30 countries, focusing on electricity and gas [8]. - The divestment is expected to generate substantial accounting gains and provide significant cash flow, which will be allocated for future investment and operational needs to enhance asset allocation efficiency [8]. - The transaction is anticipated to be completed by the end of June 2026 [9]. Group 4: Market Reaction and Broader Context - The announcement of the sale has garnered significant market attention, trending on social media with over 8 million views [12]. - Li Ka-shing's family has been actively divesting assets, including plans to sell core global port assets and other properties in the coming years [13]. - As of mid-February 2026, Li Ka-shing's family remains the wealthiest in Hong Kong, with a net worth of approximately HKD 352.5 billion [13].