RE: BusinessCompanies Consortium of 3 Li Ka-shing firms acquires Phoenix Energy, Northern Ireland’s largest natural gas distribution network, for US$941 million26 Apr 2024 15:14
Daily Telegraph, Partial Extract
Phoenix Energy Group CEO Kailash Chada said: “We are delighted that the sales process has attracted the calibre of investment CKI bring to the Northern Ireland economy.
"CKI has a comprehensive portfolio of global investments which include a number of UK based investments; Northern Gas Networks, Wales & West Utilities, UK Power Networks, Seabank Power and Northumbrian Water.
“We are particularly pleased that the CKI investment coincides with the gas industry in NI entering an exciting period of continued growth and development, providing sustainable low carbon heating options to over 350,000 properties in NI and playing an integral role in delivering regional decarbonisation ambitions.”
Phoenix has also confirmed that “the outcome of the sales process will not have an impact on the Phoenix Energy workforce”.
Phoenix Energy was established in 1996 and is Northern Ireland's largest natural gas network company, operating a network that covers half of the local population and providing gas to more than 350,000 households.