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...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

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

Print Edition

FinanceAsia Print Edition

EVENTS