CK Hutchison wants Chinese firm to join bidding for its $22.8 billion ports business

CK Hutchison is seeking a major Chinese strategic investor to join the BlackRock-led consortium bidding for its $22.8 billion ports business, following reports of China COSCO Shipping Corp's interest. Changes to the consortium's composition and transaction structure are deemed necessary to secure regulatory approval, extending the negotiation period beyond the initial exclusivity agreement.