Singapore’s port and terminal operator PSA International is considering selling its 20% stake in CK Hutchison’s global ports business, according to a report by Reuters.
The potential divestment comes as CK Hutchison seems to move forward with plans to sell its 80% stake in the business—valued at US$14.2 billion —to a consortium of BlackRock and MSC. The deal, which includes ports in 23 countries but excludes those in Hong Kong and mainland China, has sparked geopolitical attention due to its coverage of terminals near the Panama Canal.
Whether PSA proceeds with the sale will depend on the outcome of CK Hutchison’s exclusive 145-day negotiations with the BlackRock/MSC consortium, the sources said.
PSA, which is wholly owned by Singapore’s state investor Temasek, acquired its stake in 2006 for US$4.4 billion.
