A consortium of companies controlled by Hong Kong tycoon Li Ka-shing plans to buy Electricite de France SA's (EDF.FR) U.K. electricity distribution networks for GBP5.8 billion ($9.05 billion) and is in exclusive talks to finalize the deal, Cheung Kong Infrastructure Holdings Ltd. (1038.HK) and Hongkong Electric Holdings Ltd. (0006.HK) said in a joint statement Friday.

The offer by the CKI-led consortium, which comprises the two companies and the Li Ka Shing Foundation, is subject to final acceptance from EDF, the companies said, adding that EDF has granted the consortium a one-year period of exclusive talks to close the transaction.

CKI's interest in the consortium is 40%, while Hongkong Electric holds 40% and the foundation the remaining 20%, the statement said.

CKI and Hongkong Electric have been increasing their overseas investments in the past few years to broaden their earnings base because of difficulties in expanding in Hong Kong's mature market.

Shares of CKI and its 39%-owned Hongkong Electric, which were suspended from trading in Hong Kong on Friday, will resume trading at 0630 GMT.

-By Yvonne Lee, Dow Jones Newswires; 852-2802-7002; yvonne.lee@dowjones.com
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