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Hong Kong: Court approves billionaire Li Ka-shing’s Hutchison merger

By  |  May 19, 2015

A Hong Kong court approved on Tuesday the merger plan of billionaire Li Ka-shing’s CK Hutchison and its associate Hutchison Whampoa.

Group chairman Li Ka-shing reiterated promises to shareholders that the dividend payout ratios of the merged entity and the property arm that will be spun off soon will be higher than before, the Hong Kong Economic Journal reported.

There are hopes that the entire restructuring can be completed by June 3 if the property business unit spin-off plan is also approved by shareholders after the landmark merger of Li’s flagship firms.

In response to a shareholder’s concerns over the future, Li said the merged group will continue to invest both overseas and in mainland China, just like what Hutchison and Cheung Kong have been doing over the past decades.

 

Full content: The Wall Street Journal

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