Deals
Temasek’s PSA Shelves $4 Billion Hutchison Ports Stake Sale, Sources Say
- Sale talks could resume when economic conditions improve
- China Merchants, Cosco had expressed interest in the 20% stake
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PSA International Pte has shelved plans to sell its minority stake in the ports business of Hong Kong’s CK Hutchison Holdings Ltd. amid economic headwinds, according to people familiar with the matter.
Temasek Holdings Pte-owned PSA put the stake sale on hold after potential valuations were lower than expected, as shipping activity globally has slowed, the people said. PSA had sought about $4 billion for its 20% share of CK Hutchison’s ports assets, Bloomberg News reported.