CK Hutchison Rules Out Ports Deal Being Completed This Year

CK Hutchison Holdings Ltd. ruled out the likelihood of the controversial sale of its global ports to a BlackRock Inc.-backed consortium being completed this year but stayed optimistic about the deal’s prospects after inviting a Chinese investor into the mix.

A transaction wouldn’t be completed this year even if binding agreements are settled sooner, said CK Hutchison co-managing director Frank Sixt at an analysts briefing following the release of its interim earnings results on Thursday. He pointed out the complexity involved in the deal, which covers 43 of CK Hutchison’s ports including two in the strategic Panama Canal. If completed, the sale could net the conglomerate founded by billionaire Li Ka-shing more than $19 billion in cash.