--CK Infrastructure Holdings Ltd. pulled out of the bidding for National Grid PLC's LNG terminal, which is valued at about 2 billion pounds ($2.69 billion), Bloomberg said, citing unnamed sources.
--The Hong Kong-based company was competing with a consortium led by Ontario Municipal Employees Retirement System, or Omers, Bloomberg reported. About twenty parties initially expressed interest in the terminal. It is unclear whether bidders will re-engage, the media company said.
--A CKI investor relations executive declined to comment on specific deals but said the company is not actively bidding. A representative for National Grid declined to comment to Bloomberg, while Omers didn't immediately respond to a request for comment.
--National Grid shares closed 1.2% lower at 10.34 pounds.
Full story: https://shorturl.at/W5hNa
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
August 12, 2025 12:40 ET (16:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.