BBG: PSA’s CK Hutchison Ports $4bn stake sale attracts China giants, sources say

BLOOMBERG reports:

Chinese state-owned conglomerates China Merchants Group and China Cosco Shipping Corp. are among the firms expressing interest in PSA International Pte’s minority stake in the ports business of Hong Kong’s CK Hutchison Holdings Ltd., according to people familiar with the matter.

PSA is seeking about $4 billion for its 20% share of CK Hutchison’s ports assets, the people said, asking not to be identified because the matter is private. PSA, owned by Singaporean state investment firm Temasek Holdings Pte, is working with an adviser as it fields preliminary interest in the stake, the people said.

The sale process has just kicked off and PSA is holding early talks with potential bidders including China Merchants, Cosco and other firms in the sector, the people said…

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