Announcement comes after 145-day exclusive negotiation period between CK Hutchison and consortium ended on July 27
Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings has said it plans to invite a major strategic investor from mainland China to join as a “significant member” of a consortium seeking to buy its global port stakes, after a deadline for exclusive talks on the US$23 billion sale deal expired on Sunday.
The controversial transaction involved CK Hutchison selling stakes in 43 ports, including two at either end of the Panama Canal, to the consortium led by Terminal Investment Limited, an affiliate of the world’s largest container line, MSC, and American asset manager BlackRock.
The July 27 deadline was set 145 days from the company’s March 4 exchange filing that first announced the exclusive negotiation period.
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