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.
Hutchison Whampoa Ltd., controlled by Asia’s richest man Li Ka-shing, plans an initial public offering this year for A.S. Watson & Co., selling about 25 percent of the division that has more than 10,000 retail stores worldwide.
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.
Hong Kong stocks dropped, dragging the city’s benchmark index down to its lowest level since July, as casino companies tumbled on signs of a slowdown in Macau gambling revenue and property developers declined.
Li Ka-shing ’s Hutchison Whampoa Ltd. and Cheung Kong (Holdings) Ltd. gained in Hong Kong trading today after earnings beat estimates and the billionaire said he’s optimistic about the world economy and China’s growth.