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January 5, 2011

Hutchison to Acquire Stakes in Chinese Ports

Hutchison Whampoa has unveiled plans to acquire an additional 10% stake in Hongkong International Terminals from China Resources for $732m. The acquisition will enable the company to increase its stake from 66.5% to 76.5%. Hutchison will also acquire an additional 5.4% stak

By cms admin

Hutchison Whampoa has unveiled plans to acquire an additional 10% stake in Hongkong International Terminals from China Resources for $732m.

The acquisition will enable the company to increase its stake from 66.5% to 76.5%.

Hutchison will also acquire an additional 5.4% stake in Yantian International Container Terminals from China Resources, increasing its stake from 48% to 53.4%.

Hutchison is engaged in diversified businesses including ports and related services, while China Resources is a manufacturer and distributor of daily consumer goods.

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