Li Ka-shing's family has reinitiated its foreign asset disposal in August 2026. According to Australian financial media, CK Infrastructure Holdings Limited (01038.HK) has appointed Morgan Stanley and Barclays to formally launch the sale of a controlling stake in its Australian sustainable distributed energy producer, EDL Energy. The project is valued between A$2 billion and A$3 billion, equivalent to approximately HK$11.08 billion to HK$16.66 billion. Under the transaction timeline, bidding institutions are required to submit non-binding preliminary offers by September, with CK Infrastructure aiming to finalize a formal transfer agreement by the end of this year. If the transaction is completed at the upper end of the valuation range, the total value of overseas asset disposals by the CK Hutchison group in 2026 will exceed HK$183.8 billion.

EDL Energy is not a conventional energy asset. The company specializes in distributed clean energy, renewable natural gas, and renewable power supply for remote mining areas, counting global mining giants like Rio Tinto and Glencore among its long-term clients. In 2025, EDL Energy reported adjusted full-year revenue of A$690 million (approximately HK$3.66 billion), with EBITDA of about A$270 million (nearly HK$1.5 billion), reflecting an EBITDA margin of approximately 39%. The assets up for sale include 54 energy facilities with a total installed capacity of 836 megawatts (MW), of which 695 MW are in Australia, with the remainder distributed in the United States (130 MW) and Canada (11 MW). CK Asset Holdings Limited, CK Infrastructure, and Power Assets Holdings Limited hold 40%, 40%, and 20% stakes in EDL Energy, respectively, via their subsidiary CK William Group, and this transaction involves selling the entire controlling interest.

EDL Energy was a core asset acquired by the Li Ka-shing family in 2017 during the A$7.4 billion privatization of the Australian energy group DUET Group. After holding it for nearly a decade, the decision to sell at a high valuation continues the CK Hutchison group's consistent strategy of "selling at peak prices." Potential buyers include Swedish private equity giant EQT Partners, Wall Street infrastructure investment firm Stonepeak, and Japanese-backed Igneo Infrastructure Partners, which are already gathering market feedback. The market expects further interest from global infrastructure investment funds, sovereign wealth funds, and utility giants.

The sale of EDL Energy is not an isolated event but a key part of the Li Ka-shing family's accelerated foreign asset monetization in 2026. The first transaction involved the UK train leasing business (approximately HK$11 billion). In July 2025, a consortium led by CK Infrastructure finalized the sale of its entire interest in the UK rail vehicle leasing company Eversholt Rail (UK Rails), with the transaction completed in January 2026. The second transaction was the UK power grid UK Power Networks (over HK$110.7 billion). On February 26, 2026, the CK Hutchison group announced that its subsidiaries—CK Infrastructure, Power Assets, and CK Asset Holdings—sold their entire stakes in the UK electricity distribution operator UK Power Networks to the French utility giant Engie for HK$44.3 billion, HK$44.3 billion, and HK$22.15 billion, respectively, with a total transaction value exceeding HK$110.7 billion. This is the largest European infrastructure asset monetization by the CK Hutchison group in recent years. The grid assets, covering London and Southeast England and serving over 8 million users, were held for 16 years following their acquisition in 2010. The third transaction was the UK telecom business Vodafone Three (HK$45.5 billion). On May 5, 2026, CK Hutchison announced the sale of its 49% stake in the UK telecom business Vodafone Three for £4.3 billion (approximately HK$45.5 billion). Following the completion of this deal, the CK Hutchison group has fully exited the UK telecom market, ending its 26-year presence in the sector. The fourth transaction is the Australian EDL Energy (HK$11.08 billion to HK$16.66 billion), with the sale process launched in August and a target to sign an agreement by year-end.

Considering only the first three UK transactions, the CK Hutchison group has already recovered approximately HK$167.2 billion in cash, a sum close to the total market capitalization of CK Infrastructure. If EDL Energy is sold at the upper end of its valuation range, the total divestment amount for the full year 2026 will exceed HK$183.8 billion. Over the past five years, the cumulative divestment by the CK Hutchison group has surpassed HK$350 billion. Amidst this series of large-scale asset sales, the most pressing question for the market is: Why is the Li Ka-shing family accelerating monetization at this time? Victor Li Tzar-kuoi, Chairman of CK Infrastructure and the eldest son of Li Ka-shing, has previously stated that the group adheres to a prudent "cash is king" strategy in the current macroeconomic environment, with the core considerations for investment decisions being project quality, stability, and returns. The three recent UK asset sales by the CK Hutchison group cover railway infrastructure, urban power distribution grids, and mobile communications—all mature utility assets with stable cash flows. After completing these three transactions in the UK, the group has largely cleared its core infrastructure and telecom assets in the country, significantly reducing its heavy asset footprint in Europe.

From the perspective of asset holding periods, the group's selling timing has accurately targeted valuation peaks: UK Power Networks was held for 16 years, the UK telecom business for 26 years, and EDL Energy for nearly a decade. This strategy of "long-term holding and exiting at high points" is another practical application of Li Ka-shing's principle of "not chasing the last coin." Meanwhile, the group's cash reserves are rapidly expanding. This substantial cash pool provides a safety net to navigate global economic uncertainties and ammunition to seize new investment opportunities. Reports have previously indicated that the CK Hutchison group is considering an IPO for AS Watson Group and spinning off its global telecom business, aiming to unlock greater corporate value. From UK railways, power grids, and telecoms to Australian clean energy, the Li Ka-shing family is converting foreign heavy assets into cash at a rate of hundreds of billions of Hong Kong dollars annually. Against a backdrop of heightened global macroeconomic uncertainty and rising geopolitical risks, "cash is king" is transforming from a slogan into tangible action. With billions in cash on hand, the next opportunity to "buy the dip" may already be in the making.