Singapore’s PSA International is reportedly looking to offload its stake in the ports business of Hong Kong’s CK Hutchison Holdings.
It bought the 20% stake in CK Hutchison’s ports business in 2006 for $4.4bn.
Chinese state-owned conglomerates China Merchants Group and China Cosco Shipping Corp are among the firms expressing interest in the stake, reported Bloomberg.
PSA is said to be seeking about $4bn for its share of CK Hutchison’s ports assets, with Singaporean state investment firm Temasek said to be working with an adviser as it fields preliminary interest.
A PSA International spokesperson declined to comment on the development when contacted by TradeWinds.
Li Ka-shing’s CK Hutchison is one of the world’s biggest container terminal operators and port services providers, with holdings in about 51 ports in 25 countries.
PSA International operates more than 60 deepsea, rail and inland terminals across 42 countries, according to its website.
PSA International handled container volumes of 90.9m-teu for the year ending 31 December 2022.
Its flagship operation PSA Singapore contributed 37m teu, while PSA terminals outside Singapore handling 53.9m teu.
Last month, Temasek saw its deemed interest in Hutchison Ports affiliated company Hutchison Port Holdings Trust (HPH Trust) increase to just over 15%.
This follows Singapore’s largest bank DBS spending just over $1.5m to acquire 7.14m shares in the Singapore-listed entity, according to a regulatory filing.
Temasek has a more than 20% interest in DBS, while PSA International is a wholly-owned subsidiary of Temasek.
