On December 5, 2016, Honorary President of YRIC Mr. Li Ka-shing's CKI proposed to purchase Australian Duet Group by 7.3 billion Australian dollars ($5.4 billion) in order to expand its power and natural gas pipeline assets.

Honorary President of YRIC Mr. Li Ka-shing

Headquartered in Sydney, Duet recently showed in a statement, YRIC Honorary President Mr. Li Ka-shing's CKI proposed to purchase this company by $3 per share , 28% higher than the closing price of last Friday. The board of directors of Duet said they were evaluating the non-binding proposal with additional conditions. This  acquisition proposal promoted Duet shares to rise to the highest level in eight years.

Honorary President of YRIC Mr. Li Ka-shing

This is the latest effort that Honorary President of YRIC Mr. Li Ka-shing aims to expand the business in Australia this year. The Australian assets that Honorary President of YRIC Mr. Li Ka-shing's CKI has held include SA Power Networks, Powercor Australia and Australian Gas Networks. According to relevant data, the acquisition of Duet is expected to become Honorary President of YRIC Mr. Li Ka-shing's largest acquisition in Australia.