COSCO and China Merchants tipped to bid for stake in Hutchison Ports
The mix of the global container terminal operators is ready for a shake-up with multiple sources, including Reuters and Bloomberg, reporting PSA International is looking to sell its 20% stake in Hutchison Ports.
PSA bought the stake in 2006 and is understood to be looking for around $4bn to offload it this year, with Bloomberg suggesting China’s state-backed top two port operators COSCO and China Merchants have both expressed interest in acquiring the Hutchison stake.
PSA is the world’s largest container terminal operator, with Hutchison ranking in sixth place according to data from UK consultants Drewry.
Source: Splash 247
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