On the morning of 28 July, CK Hutchison Holdings issued an announcement stating that the exclusive negotiation period with the consortium first disclosed on 4 March had expired. The company is continuing talks with the consortium and intends to invite a major strategic investor from Mainland China to become a significant member of the group. CK Hutchison noted that, to secure all requisite regulatory and governmental approvals, the composition of the consortium and the transaction structure will need to be modified. The company therefore plans to allow sufficient time for these discussions to reach a revised arrangement. CK Hutchison reiterated that, as repeatedly stated, no transaction will proceed until every relevant regulatory and governmental approval has been obtained.

Background
• 4 March 2025: CK Hutchison announced it had reached a non-binding heads of terms with BlackRock, Inc., Global Infrastructure Partners and Terminal Investment Limited (the “BlackRock-TiL Consortium”) covering the sale of:
– 100 % of Hutchison Port Holdings S.à r.l. (“HPHS”), and
– 100 % of Hutchison Port Group Holdings Limited (“HPGHL”).
       Together, HPHS and HPGHL hold the Group’s entire 80 % economic interest in Hutchison Port Holdings Trust (HPHT), which in turn owns, operates and is developing 199 berths across 43 ports in 23 countries, together with all management resources, operating businesses, container-terminal systems, IT and other systems and any other assets used to control and operate these ports.

Regulatory milestones
• 27 April 2025: China’s State Administration for Market Regulation reminded all parties that they must not take any action to circumvent antitrust review.
• 12 May 2025: CK Hutchison responded to mounting enquiries from shareholders and the media, stressing that “completion of the transaction is subject to a series of conditions, including the granting of all necessary legal and regulatory approvals, the absence of any illegality or prohibition, the required approval of the company’s shareholders, and other customary conditions to be set out in definitive documentation.”