Michelle Lu, General Manager - Group Corporate Affairs
Tel: (852) 2619 7557 Fax: (852) 2612 0083
E-mail: gca@hph.com.hk
30 November 2001
[Hong Kong - 30 November 2001] Hutchison Port Holdings (HPH) has received approval from the European Commission to increase its stakeholding in Europe's leading container terminal operator Europe Combined Terminals (ECT) to 60%. This follows the Commission's decision to approve HPH's acquisition of a 35% stake in ECT in July 2001. On completion of the transaction, HPH will have control over ECT and will be entitled to further increase its stake in the future.
HPH Group Managing Director, John Meredith said, "HPH welcomes the European Commission's decision. This will allow HPH to participate fully in the management of ECT. We are looking forward to working more closely with the local management to further expand the international trade opportunities for the Port of Rotterdam."
Notes to Editors:
Hutchison Port Holdings (HPH) is the world's leading port investor, developer and operator with interests in 15 countries throughout Asia, Africa, Europe and the Americas. Today, HPH operates a total of 162 berths in 29 ports together with a number of transportation related service companies. With industry recognized core competence in the effective and efficient management and operation of container ports, the HPH Group handled over 25.3 million TEU in 2000.
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