HK Company offers shares in port terminal sales to Chinese companies

One of the largest operators of Global Port Terminal said it provided stock in pending sales to Chinese investors.

In its submission to the Hong Kong Stock Exchange, CK Hutchison said the planned sales of dozens of port facilities include major strategic investors from mainland China.

company (0001.hk) In March, it announced plans to sell more than 40 container terminals for $23 billion under the Hutchison Port Holdings Unit to a consortium led by BlackRock, which includes a Geneva-based US asset manager.

However, Beijing said it would block the transaction if it did not obtain a reduction in the transaction.

The released report identified investors as China’s maritime cosco. It was identified by the United States as a division of the Chinese military that used unfair trade practices to control the shipping and shipbuilding industry.

The submission said that the period of exclusive negotiations with the consortium on sales for the Hutchison Port Group has expired, but discussions with group members continue.

Cosco said it could receive shares in 41 port facilities, except for a pair near the Panama Canal, where the Trump administration claimed it was under China’s influence.

Hutchison had no comments. BlackRock and Costco did not immediately respond to FreightWaves’ request for comment.

Find more articles by Stuart Chirls here.

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