Well-known Chinese news site Sina recently reported that the Hong Kong company, Power Assets Holdings Limited (formally known as the Hong Kong Electric Company), merged into Cheung Kong Infrastructure Holdings and will be delisted from the Hong Kong Stock Exchange. Li Ka-Shing, the wealthiest man in Hong Kong and the eighth wealthiest in the world (Forbes 2012) controls both of these companies. Hong Kong Electric Company was founded in 1888 and is one of the oldest electric companies in the world. Mr. Li spent the past year moving his core business registrations to the Cayman Islands. This new merger concluded the operation that moves all assets that are under Li Ka-Shing out of Mainland China and Hong Kong. This latest merger also benefits the shareholders of Cheung Kong Infrastructure Holdings. Li Ka-Shing’s year-long re-organization triggered a large number of discussions on the future of the Chinese economy.
Source: Sina, September 9, 2015