Exclusive-Singapore's PSA weighs selling 20% stake in CK Hutchison's ports business, sources say [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
Tycoon Li Ka-shing's CK Hutchison announced last month it would sell its 80% holding in the business which includes two ports along the strategically important Panama Canal to a BlackRock-led consortium. The holding has an equity value of $14.2 billion. U.S. President Donald Trump hailed the deal as a "reclaiming" of the canal. Chinese state media, however, have criticised it as a betrayal of China's interests and the country's market regulator has launched an antitrust review. Whether PSA, a ports operator wholly owned by Singapore state investor Temasek, ultimately decides to sell will depend on whether CK Hutchison goes ahead with the transaction, the two people said. CK Hutchison and the BlackRock-led consortium have agreed to exclusive talks for 145 days. The people, who were not willing to be identified due to the sensitivity of the issue, declined to comment on a potential sale price for PSA's stake. PSA declined to comment. CK Hutchison did not immediately respond to
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