Hutchison Port Holdings beefs up portfolio with the acquisition of ACT Holdings

Purchase was set at HK3.167m.

Hutchison Port Holdings Management Pte. Limited announce that on 7 March 2013, HPH Trust, acquired 1,000 shares of par value HK$1.00 each representing the entire issued and paid-up share capital of Asia Container Terminals Holdings Limited ("ACT Holdings") for a total cash consideration of approximately HK$3,167 million (equivalent to approximately S$509 million). 

The ACT Holdings Shares acquired comprise 355 ACT Holdings Shares, 350 ACT Holdings Shares and 295 ACT Holdings Shares from DPW, PSA and DPW8 respectively. 

At closing of the Acquisition, the Purchaser also procured the payment of an amount of HK$750 million (equivalent to approximately S$121 million) in cash to fund the full repayment of the existing indebtedness which was owing by the ACT Holdings group to the respective affiliates of DPW and PSA.