Hong Kong-based conglomerate CK Hutchison Holdings said on Monday it plans to bring on a major strategic investor from the Chinese mainland to be a “significant member” of a consortium aiming to acquire the group’s dozens of global ports, including facilities at the Panama Canal, after the exclusive talks period for the $22.8-billion sale expires.
The company said in a stock exchange statement it “remains in discussions with members of the consortium 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,” it added, noting that it intends to allow sufficient time for these talks.
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CK Hutchison announced on March 4 this year it plans to sell its 43 ports across 23 countries, including those at both ends of the Panama Canal, to a consortium led by US-headquartered BlackRock, and begin 145 days of exclusive negotiations.
