Marine Link
Saturday, November 25, 2017

HPH Trust Acquires Major Stake in Huizhou Terminal

December 30, 2016

Pic: Huizhou International Container Terminals Limited

Pic: Huizhou International Container Terminals Limited

 Hong Kong Container port business trust Hutchison Port Holdings Trust (HPH Trust) has reached an agreement to purchase a majority stake in Huizhou International Container Terminals Limited (HICT) in Guangdong from the trust’s sponsor for about $86.26m.

 
HPH Trust will acquire 65% and 15% of HITC equity interest, respectively through its subsidiaries, Yantian International Container Terminals (Phase III) Limited (YICT III) and Shenzhen Pingyan Multimodal Company Limited (PML).
 
The company said that, upon completion of the acquisition, HICT will be jointly held by YICT III, Huizhou Port Group (HPG) and PML in the proportions of 65%, 20% and 15%.
 
The acquisition will be funded from the internal resources of YICT III and PML, and is not expected to have any material impact on the financial position of HPH Trust for the current financial year ending December 31, 2016.
 
Business Times quoted the trust manager saying that it expects construction of two 50,000-tonne container berths in the Huizhou port to be completed by the end of 2016, and that it believes the Huizhou terminals “will be able to attract more cargoes, in particular intra-Asia cargoes due to its strategic position”.
 
Maritime Reporter Magazine Cover Nov 2017 - The Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News