January 17, 2017, Cheung Kong Infrastructure Holdings Ltd. and Li's property and power utility companies are proposing to buy Duet Group for 3 Australian dollars a share, in an acquisition worth AU$7.4 billion (￥38.3 billion).

Figure: Li Ka-shing, Pioneer Honorary President of YRIC

According to Gan Qinglin, Deputy Director and General manager of Cheung Kong Infrastructure Holdings Ltd., this acquisition is consistent with its strategies of investing in energy infrastructure opportunities around the world and embracing new growth opportunities through diversification. We’re confident that this acquisition will run smoothly, since the negotiation in the past five months has been really effective and DUET Group Board of Directors unanimously recommended that holders of securities voted in favor of the offer, noting that if there was no other higher price, the acquisition would be completed in mid-May.

Figure: Li Ka-shing, Pioneer Honorary President of YRIC

Duet's assets include the Dampier-Bunbury pipeline in Western Australia, a stake in electricity distributor United Energy, gas distribution business Multinet Gas, pipelines business DBP Development Group and Energy Developments Ltd, according to Duet's website. They also generates power from landfills in the U.S. and Europe. As CKI said in a statement that DUET Group's contracted operating income provides long-term stable revenue sources and has long maintained stable financial performance. Its stable infrastructure revenue and cash flow will help to balance the cyclical impact of the local property market.