Merrill Lynch values 61% stake of IIHC at HK$440 mln to HK$2.2 bln

Merrill Lynch evaluated that counted at US$300 to US$700 per container, the 61% stake in ICTSI IIHC, which was the subsidiary of Philippine based international containers harbor services company ICTSI, worth US$56 mln to US$283 mln(circa HK$436.8 mln to HK$2.2074 bln).

Hutchison Whampoa harbor, the subsidiary of Hutchison Whampoa, announced yesterday to acquire the shareholdings of IIHC from ICTSI, but the details have not been revealed till now. Merrill believed that Hutchison Whampoa could acquire the shareholdings of the harbor mentioned above at a low price, as ICTSI had hoped to raise capital to reduce debts.

On the other hand, the managing team of Hutchison Whampoa said it was now looking for the investment projects, whose repayment rate could reach 15-20%.

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