Hutchison Whampoa Ltd said its unit Hutchison Ports Yantian Ltd (HPYL) has entered into an agreement to acquire an additional 23.33 pct interest in Shenzhen Yantian West Port Terminals Ltd for 270.63 mln yuan in cash.
HPYL currently holds 41.67 interest in Shenzhen Yantian West Port Terminals and the purchase will lift its total interest to 65 pct.
Hutchison Whampoa said the transaction provides the group with an opportunity to acquire control of the joint venture, and forms part of its investment strategy in ports and related services.
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