CK Hutchison Rules Out Ports Deal Being Completed This Year
A transaction wouldn't be completed this year even if binding agreements are settled sooner, said CK Hutchison co-managing director Frank Sixt at an analysts briefing following the release of its interim earnings results on Thursday. He pointed out the complexity involved in the deal, which covers 43 of CK Hutchison's ports including two in the strategic Panama Canal. If completed, the sale could net the conglomerate founded by billionaire Li Ka-shing more than $19 billion in cash.
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