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CKH: Exclusive Negotiation Period for Hutchison Ports Group Deal Expires, w/ Plan to Invite Major CN Strategic Investors to Join as Key Members of Consortium
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CKH HOLDINGS (00001.HK) made an announcement relating to the Transaction involving the Hutchison Ports Group. The period for exclusive negotiations between the Group and a consortium expired. Notwithstanding such expiry, the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium. Changes to the membership of the consortium and the structure of the transaction (New Arrangements) will be needed for the transaction to be capable of being approved by all relevant authorities. The Group intends to allow such time as is required for such discussions to achieve the New Arrangements. The Company stated on several occasions that it will not proceed with any transaction that does not have the approval of all relevant authorities. Recent remarks by Li Tzar Kuoi, Victor and HSBC’s analysis reflected CKH’s strategic focus, sources close to CKH Group indicated. Last Friday (25th), addressing market rumors that CKI HOLDINGS (01038.HK) signed an agreement to sell UK Rails, Li stated that buying and selling is how business grows, and that they avoid borrowing and often reserve funds for larger deals. AASTOCKS Financial News Website: www.aastocks.com |
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