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DP World exits Hong Kong

DP World exits Hong Kong
Hong Kong: DP World is selling stakes in two Hong Kong container terminals and a logistics business for a total of $742m. Hutchison Port Holdings Trust is buying all of Asia Container Terminals which operates container terminal 8 west from DP World and its partner PSA for $279m.

In a separate deal also announced yesterday DP World said it is also selling to Goodman Hong Kong Logistics Fund 75% of DP World Asia for $463m, which gives it 25% ownership of the ATL Logistics Centre Hong Kong and partial ownership of CSX World Terminals Hong Kong.

DP World said it will recognise a net gain of $151m from the divestments.