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CKH HOLDINGS Rallies ~15% at Open on Plan to Sell 80% Interest in Hutchison Port Holdings
Recommend 23 Positive 63 Negative 24 |
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CKH HOLDINGS (00001.HK) opened sharply higher this morning (5th), rising 14.88% to HKD44.4. Trading volume reached 2.4601 million shares, with a turnover of HKD109 million. The group announced late last night (4th) that it had reached in principle agreements on essential terms with the BlackRock-TiL consortium for a transaction involving the sale of all shares in HPHS and HPGHL. These entities hold the group’s 80% effective interest in Hutchison Port Holdings. Based on a 100% equity value of the disposed assets at USD17.765 billion, the purchase price was set at USD14.212 billion. The transaction was expected to generate cash proceeds exceeding USD19 billion for the group. AAStocks Financial News |
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