Hutchison acquires extra stake in ECT
Hong Kong-based Hutchison Port Holdings has acquired from the port of Rotterdam an additional 19-percent shareholding in Europe Combined Terminals, the largest terminal operator in the Dutch port, for about $47 million.
The transaction will increase Hutchison’s share in the port operator from 79 percent to 98 percent, with the remaining 2 percent owned by employees.
The port of Rotterdam said that Hutchison is assuming 27 million euros ($34 million) of its debts and will pay it 10 million euros ($13 million), as part of the transaction.