April 21, 2017 / 12:18 AM / 7 months ago

DUET says Australian govt approves $5.5 bln takeover by CKI

SYDNEY, April 21 (Reuters) - Australia DUET Group said on Friday it had been advised by Hong Kong’s Cheung Kong Infrastructure Holdings (CKI) that the Australian government does not plan to block the Hong Kong companies $5.5 billion takeover offer.

DUET chairman Doug Halley said shareholders would now be able to vote on the CKI bid at a meeting later on Friday following the approval from the Foreign Investment Review Board (FIRB).

DUET shares jumped 9.5 percent at the open to A$3.01 ($2.26). There were fears earlier this year that a new infrastructure oversight body in Australia would block or modify the CKI bid.

$1 = 1.3305 Australian dollars Reporting by Jane Wardell; Editing by Shri Navaratnam

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