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長建(01038.HK)料下半年完成出售NW 25%權益 有足夠彈藥作未來收購及增派息
長江基建(01038.HK)早前宣布出售英國水務公司Northumbrian Water(NW)25%權益予KKR,集團策劃及投資部助理首席經理陳銘恆昨表示,估計交易下半年完成,套現後淨負債率下降至約10%左右,或低於目前12.9%的水平,旗下電能(00006.HK)淨現金將比現時多。 他指,集團有足夠彈藥作未來收購,擬物色新的大型項目,將來可與系內公司一同合作收購,即使過往無派特別息的傳統,亦有信心將來增派股息。 陳銘恆又指,長和系出售NW的股權作價,相當於准許回報資產價值的50%溢價,為英國同類交易中新高,長江集團多家公司會繼續維持在NW的75%權益。他並提到,長建早已與KKR在澳洲的上市公司,共同控制澳洲維多利亞及南澳的電網資產,期望雙方將來有更多合作。 目前長建有近70%業務為受管制類別,大部分來自澳洲及英國。陳銘恆表示,即使英國面對30年來最高的通脹,但當地受監管的公用事業資產所得收入與通脹掛鉤,於海外投資時會以當地貨幣舉債,確保自然對沖匯率風險,在計算回報率時,會隨息口變化而調整,因此風險不大。 電能行政總裁及執行董事蔡肇中表示,集團已在英國及澳洲嘗試生產更多綠色氫氣,打入管道,並於英國作100%氫氣運作實地試驗,並在英國大城市配合電動車充電需求,提升輸電系統調配電力的能力。
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