China Oceanwide seeks HK$3bn for acquisition

Hong Kong central 230px
By Shruti Chaturvedi
28 Aug 2014

China Oceanwide Holdings Group is seeking a HK$3bn ($387m) bridge loan to back its acquisition of Hutchison Harbour Ring from Hutchison Whampoa. The process may take a while to wind up as the borrower is privately owned, said bankers.

An announcement posted by Hutchison Harbour Ring on the Hong Kong Stock Exchange on August 11 said that Oceanwide was to acquire a 71.36% stake in Hutchison Harbour Ring for between HK$3.6bn and HK$3.8bn. The borrower is looking for the bridge to finance the transaction, said bankers.

The ...

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