Hong Kong’s CK Infrastructure Holdings Ltd is seeking a £1 billion ($1.4 billion) bridge loan for its pursuit of UK smart-meter assets owned by Macquarie Group Ltd, according to people with knowledge of the matter.  

CKI, founded by Li Ka-shing, has sounded out banks for potential financing, said the people, who asked not to be identified because the information is private. The loan package might be larger as CKI may seek more for other corporate purposes, the people said.

Macquarie Commodities and Global Markets, a unit of Macquarie Group, is inviting suitors, including CKI, to bid for its portfolio of gas and electricity smart meters, the people said.

Deliberations are ongoing and CKI may decide to drop the pursuit, according to the people. Representatives for Macquarie and CKI declined to comment.

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Macquarie agreed to buy Iberdrola SA’s UK business, SP Smart Meters Asset Ltd, for about £900 million in May, adding about 2.7 million meters to bring its total to over 13 million, making it one of the largest independent smart meter providers in the UK.

CKI formed a joint venture with CK Asset Holdings, previously known as Cheung Kong Property Holdings, to buy Ista, a smart meters company based in Germany, for €4.5 billion ($5.2 billion) in 2017.