Uitverkoop! Afvalverwerker AVR in Chinese handen

A consortium of Li Ka-shing's companies bought a Dutch waste-management company, as the Hong Kong billionaire continues picking up infrastructure assets in developed markets.

Cheung Kong Infrastructure Holdings Ltd., directly controlled by Mr. Li's Hutchison Whampoa Ltd., said in a statement Monday that it and a group of companies—Cheung Kong (Holdings) Ltd., Power Assets Holdings Ltd. and the Li Ka Shing Foundation Ltd.—bought AVR Afvalverwerking B.V., for about 9.7 billion Hong Kong dollars ($1.2 billion), including debt. AVR is the largest energy-from-waste company in the Netherlands.