HPH Trust buys majority stake in Huizhou port from sponsor for $125 mil

SINGAPORE (Dec 29): The managers of Hutchison Port Holdings (HPH) Trust has agreed to buy an effective 41.3% stake in Huizhou International Container Terminals (HICT) from the trust's sponsor for about US$86.26 million ($125 million).

HPH Trust’s subsidiaries Yantian International Container Terminals (Phase III) (YICT III) and Shenzhen Pingyan Multimodal Company (PML) are acquiring a 65% and 15% stake in HICT respectively. The remaining 20% will be held by Huizhou Port Group Co.

As HPH Trust has an indirect interest of 51.64% in YICT III and PML, HICT will become an associated company of HPH Trust after the acquisition.

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