Hutchison increases stakes in South China ports
According to a Wall Street Journal report, Hutchison Whampoa plans to spend HK$5.7 billion to raise its controlling stakes in ports in Hong Kong and Shenzhen. Hutchison has agreed to buy several port and property assets from state-owned China Resources (Holdings) Co. Financial details of the investments have not been revealed. The deals will increase Hutchison Port Holdings‘ stake in Hongkong International Terminals from 66.5% to 76.5%, and in Yantian International Container Terminals in Shenzhen from 48% to 53.4%. In 2006, Hutchison sold a 20% stake in its ports unit to Singapore-based PSA International for almost US$4.4 billion. Hutchison sill operates 51 ports in 25 countries. Quelle: eyefortransport |