Cheung Kong makes bid to buy planes from Awas

Group is diversifying into infrastructure; lessor is said to be breaking up its fleet

[HONG KONG] Li Ka- shing's Cheung Kong Holdings Ltd has made a bid to buy a portfolio of planes from lessor Awas as the Hong Kong billionaire's flagship company diversifies its investments into infrastructure.

Cheung Kong has submitted a preliminary, non-binding proposal for the assets, the company said in a Hong Kong Stock Exchange statement without providing details. The announcement confirms a possible bid reported by Bloomberg News last Friday.

The acquisition would be Mr Li's first major investment in aircraft leasing as Asia's richest man expands his businesses from real estate, retailers, ports and power producers. Awas, the aircraft-leasing company of Terra Firma Capital Partners Ltd, plans...

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