PSA International weighs exit from CK Hutchison ports business: report

This will depend on the outcome of the business’ possible sale to a BlackRock-led consortium.

PSA International is looking into selling its 20% stake in CK Hutchison's ports business, Reuters said in a report citing two people with knowledge of the matter.

The news agency noted CK Hutchison’s Li Ka-shing has announced that the company would sell its 80% holding in the business, which includes two ports along the Panama Canal to a BlackRock-led consortium.

Whilst US President Donald Trump welcomed the deal, Chinese state media, criticised it as a betrayal of China's interests.

The two sources said the outcome of PSA International’s sale will still depend on whether CK Hutchison pushes through with the transaction.

CK Hutchison and the BlackRock-led consortium have agreed to exclusive talks for 145 days.

Reuters reported PSA declined to comment, and CK Hutchison didn't immediately respond.

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