CKI BIDS FOR AUSTRALIAN GAS PIPELINE FIRM

A consortium led by Hong Kong’s Cheung Kong Infrastructure Holdings (CKI) has made an A$13 billion ($9.8 billion) takeover offer for Australia’s biggest gas pipeline firm APA Group. The unsolicited offer may not go through due to regulatory hurdles as the country has recently tightened its foreign investment rules. Chinese investments in Australia fell to $10.3 billion in 2017, down 11 per cent from 2016.