Infrastructure acquisition gambles on smart metering
01 August 2017
A consortium led by Cheung Kong Infrastructure (CKI) Holdings is set to acquire German energy and water metering firm Ista, in a deal reportedly worth US$5.3 billion.
If the deal goes through, CKI – with its joint venture partner Midco 5 – will be celebrating its second multi-billion-dollar acquisition of the year, having already paid US$5.8 billion for Australian pipeline operator and power distributer Duet Group.
The move shows the firm – part of CK Hutchinson, which is controlled by the Hong Kong billionaire Li Ka-Shing – is willing to bet on the increasing adoption of smart metering technology.
The gamble seems a reasonable one, given that governments across Europe are proposing to step up reductions in energy usage and cut greenhouse gases. The EU has promised a directive, requiring member countries to reduce their energy use by as much as 30% by 2030.
Last year, Ista reported EBITDA of €370 million (US$437 million), on sales of €850 million (US$1 billion).
STAY CONNECTED
![](/Images/270xany/20230216-103918-Construction-Briefing-logo.png)
![](/Images/270xany/20240108-160800-CElogo.jpg)
![](/Images/270xany/20211216-114010-ConTechiconlogo.jpg)
![](/Images/270xany/wpimage%2F20201206-084310-CTLogo.png)
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
![](/Images/1140xany/20201202-170633-andybrown100x100.png)
![](/Images/480xany/20230224-110058-neilgerrard.jpg)
![](/Images/270xany/20240125-120849-catrinjonessquare.jpg)
![](/Images/270xany/20231216-104406-eleanorsheffordwhitebackgroundl-1.jpg)