Hong Kong's Li Ka-shing reveals "sweetened deal" for Oz firm Duet Group

The deal is now worth $5.5b.

New York Times reported that Hong Kong’s richest man has taken a step closer to winning control of a big Australian energy company, as he seeks to overcome Australia’s occasional wariness toward foreign investors from China.

Companies controlled by Li Ka-shing, the Hong Kong billionaire, on Monday announced a sweetened deal worth 7.4 billion Australian dollars, or about $5.5 billion, for control of the Sydney-listed Duet Group, which operates natural gas pipelines and electricity distribution companies in the states of Western Australia and Victoria.

View the fulll report here.