Hutchison scraps plan to sell ParknShop

The conglomerate controlled by Hong Kong's richest man Li Ka-shing is instead considering a public offering of the AS Watson retail business, after a mismatch in valuations.

Hutchison scraps plan to sell ParknShop

Hutchison Whampoa, controlled by Hong Kong’s richest man Li Ka-shing, has scrapped the sale of ParknShop, Hong Kong's largest supermarket chain by market share.

The company said that, after completing an initial strategic review with advisors Goldman Sachs and Bank of America Merrill Lynch, a sale of ParknShop by a private market transaction “would not deliver maximum value to the shareholders of the company.

Hutchison was seeking $3 billion-$4 billion...

To continue reading, please login or register for free

Click for more on: hutchison whampoa | li ka-shing | parknshop

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...