FRANKFURT/LONDON: France's EDF, the world's second-largest utility, agreed to sell its British power grids to two Hong Kong bidders for more than 5.5 billion pounds ($8.6 billion), two sources told Reuters.

Hongkong Electric (0006.HK) (HKE) and Cheung Kong Infrastructure (1038.HK) (CKI), which is controlled by billionaire Li Ka-shing, won the auction for the three power distribution grids and the private power networks, three people told Reuters.

The sources, who have direct knowledge of the process, declined to be identified as the sale is still confidential.

EDF will announce the sale in Paris later on Friday, when it is due to also release its first-half results, the sources said.

The French power provider declined to comment.

Representatives from HKE and CKI in Hong Kong also had no immediate comment. Trading in shares of both firms was suspended.

CKI is led by its chairman Victor Li, the eldest son of billionaire Li, who chairs Hutchison Whampoa Ltd (0013.HK), which owns 85 percent of CKI. Cheung Kong Infrastructure owns close to 39 pct of HKE.

HKE and CKI beat the only other remaining bidder in the process, a rival consortium that included Macquarie Group (MQG.AX), Canada Pension Plan (CPP) and the Abu Dhabi Investment Authority (ADIA).

Deutsche Bank, Barclays Capital and BNP Paribas advised EDF, while The Royal Bank of Scotland advised HKI and CKI.