PSA plans to sell a 20% stake in Hutchison Ports again
Reuters, citing sources, reported that PSA International, a port operator wholly owned by Singapore's state investor Temasek, is considering selling its 20 percent stake in Cheung Kong's (HKEX: 001) port business. Whether to ultimately decide to sell the stake will depend on whether Cheung Kong continues the transaction.
The announcement shows that this transaction involves a 90% stake in Panama Ports Company held by Hutchison Ports Group, which holds and operates the two ports of Balboa and Cristovar in Panama.
Two people familiar with the matter said that whether Singapore Port Group (PSA), the port operator wholly owned by Singapore's state-owned investor Temasek, ultimately decides to sell will depend on whether CK Hutchison continues the deal.
PSA purchased a 20% stake in CK Hutchison's port business for $4.4 billion (about HK $34.3 billion) in 2006. In 2022, it was reported that it was considering selling its holdings, but later suspended the sale plan because it believed the potential valuation was lower than expected. At present, the remaining 80% of the equity in Hutchison Port is held by Cheung Kong.
According to the website of the Port of Singapore Corporation, in addition to holding shares in CK Hutchison, the Port of Singapore Corporation has 70 terminals in 45 countries, including two flagship ports located in Singapore and Belgium.
Whether PSA International ultimately decides to sell will depend on whether Cheung Kong and Hutchison advance the deal. Cheung Kong and the "Blackled-TIL Consortium" have agreed to conduct 145 days of exclusive negotiations. Recently, Bloomberg reported that the world's largest liner company.
The announcement shows that this transaction involves a 90% stake in Panama Ports Company held by Hutchison Ports Group, which holds and operates the two ports of Balboa and Cristovar in Panama.
Two people familiar with the matter said that whether Singapore Port Group (PSA), the port operator wholly owned by Singapore's state-owned investor Temasek, ultimately decides to sell will depend on whether CK Hutchison continues the deal.
PSA purchased a 20% stake in CK Hutchison's port business for $4.4 billion (about HK $34.3 billion) in 2006. In 2022, it was reported that it was considering selling its holdings, but later suspended the sale plan because it believed the potential valuation was lower than expected. At present, the remaining 80% of the equity in Hutchison Port is held by Cheung Kong.
According to the website of the Port of Singapore Corporation, in addition to holding shares in CK Hutchison, the Port of Singapore Corporation has 70 terminals in 45 countries, including two flagship ports located in Singapore and Belgium.
Whether PSA International ultimately decides to sell will depend on whether Cheung Kong and Hutchison advance the deal. Cheung Kong and the "Blackled-TIL Consortium" have agreed to conduct 145 days of exclusive negotiations. Recently, Bloomberg reported that the world's largest liner company.
