CK Hutchison seeks mainland partner in ports deal
CK Hutchison says it is looking for a mainland partner to join a consortium bidding for its ports business. Photo: AFP
CK Hutchison on Monday said it is seeking a mainland partner to join a consortium bidding for its ports business outside China.
In a filing to the Hong Kong stock exchange, the Hong Kong-based conglomerate noted that the period for exclusive negotiations with the the consortium has expired, but it remains in discussions with members of the group "with a view to inviting (a) major strategic investor from the mainland to join as a significant member of the consortium."
"Changes to the membership of the consortium and the structure of the transaction will be needed for the transaction to be capable of being approved by all relevant authorities," the firm said.
"The Group intends to allow such time as is required for such discussions to achieve [that]."
CK Hutchison reiterated that it will not proceed with any transaction without the approval of all relevant authorities.
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