Hutchison Whampoa Ltd., controlled by Asia’s richest man Li Ka-shing, fell the most in more than two years after the company agreed to sell a 25 percent stake in its retail arm to Temasek Holdings Pte for HK$44 billion ($5.7 billion).
Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. agreed to sell a 25 percent stake in its retail arm to Temasek Holdings Pte for HK$44 billion ($5.7 billion) and pushed back plans for an initial public offering for the unit.
Fortum Oyj’s sale of its Swedish electricity grid is drawing interest from bidders including billionaire Li Ka-Shing’s Cheung Kong Infrastructure Holdings Ltd. and Canadian pension investor Borealis Infrastructure Management Inc., people familiar with the process said.
Cheung Kong Infrastructure Holdings Ltd., the second-largest holder in takeover target Envestra Ltd., signaled its opposition to APA Group’s bid for the rest of the Australian gas distributor, putting the deal in doubt.
Cheung Kong Holdings Ltd., the builder controlled by Asia’s richest man, said 2013 profit rose 10 percent as property sales grew in mainland China and the contribution from unit Hutchison Whampoa Ltd. increased.