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Temasek to buy 24.95% of Li's Watson for US$5.67 bn

Asia's richest man Li Ka-shing announced Friday that a Singapore state investment fund had agreed to buy just under 25 percent of his flagship retail chain, in a deal worth more than US$5.6 billion. Singapore's Temasek will purchase 24.95 percent of A.S. Watson -- part of Li's vast Hutchison Whampoa conglomerate -- for HK$44 billion ($5.67 billion), a Hutchison statement said, calling it a "strategic alliance".

Temasek to buy 24.95% of Li's Watson for US$5.67 billion

Asia's richest man Li Ka-shing announced Friday that a Singapore state investment fund had agreed to buy just under 25 percent of his flagship retail chain, in a deal worth more than US$5.6 billion. Singapore's Temasek will purchase 24.95 percent of A.S. Watson -- part of Li's vast Hutchison Whampoa conglomerate -- for HK$44 billion ($5.67 billion), a Hutchison statement said, calling it a "strategic alliance".

Temasek agrees to buy stake in A.S.Watson for $5.7 billion

HONG KONG (Reuters) - Singapore state investor Temasek Holdings <TEM.Ul> has agreed to buy a 24.9 percent stake in Li Ka-shing's retail business A.S. Watson for about HK$44 billion ($5.7 billion). Li's Hutchison Whampoa <0013.HK>, which owns A.S Watson, said in a statement on Friday that it would use part of the proceeds from the stake sale to pay a special dividend of HK$7.00 per share to its shareholders.

Hutchison Whampoa net profit up by 20%

Hong Kong billionaire Li Ka-shing's Hutchison Whampoa conglomerate said Friday its net profit for 2013 was up 20 percent from the previous year, despite challenging global markets. The blue-chip group said net profit was HK$31.11 billion ($4.01 billion) for the year ended December 31, 2013, compared to HK$25.89 billion in 2012. Profits were fuelled by growth in areas including its port, hotel and property divisions, the company said in a statement filed to the Hong Kong stock exchange.

Hutchison picks banks to manage A.S. Watson float: Sky

(Reuters) - Hutchison Whampoa Ltd <0013.HK>, controlled by Asia's richest man, Li Ka-shing, has chosen three banks to manage the float of its health and beauty retail arm A.S. Watson & Co Ltd, that could involve a secondary listing in London, Sky News reported, citing sources. The Hong Kong tycoon's conglomerate picked Bank of America Merrill Lynch <BAC.N>, Goldman Sachs <GS.N> and HSBC <HSBA.L> to manage the share sale in 2014, Sky News said on its website. (Sky News: http://link.reuters.com/wyh55v)

EU likely to open probe into Hutchison, Telefonica deal: sources

BRUSSELS (Reuters) - EU antitrust regulators are set to open a lengthy investigation into Hutchison Whampoa's bid for Telefonica's Irish unit unless Hutchison offers concessions to sooth competition concerns, two people familiar with the matter said on Wednesday. Hong Kong-based Hutchison Whampoa, controlled by Asia's richest man Li Ka Shing, announced the 780-million-euro ($1.07 billion) offer for Telefonica's 02 Ireland unit in June, its latest deal to build up a presence in Europe.

Billionaire Li's Hutchison considers retail spinoff that could be biggest Asian IPO since 2010

HONG KONG - Hong Kong billionaire Li Ka-shing's flagship company is considering spinning off its retail business in what could be one of Asia's biggest share sales in several years. Hutchison Whampoa said it has expanded a strategic review of its A.S. Watson Investment bank Credit Suisse estimates Watson could raise up to 98 billion Hong Kong dollars ($13 billion) by selling shares to the public. That would be the largest IPO in Asia since AIA Group Ltd. listed in Hong Kong in late 2010 in a deal valued at $20.5 billion, according to Dealogic data.

Shanghai free trade zone will deal a blow to Hong Kong

Asia's richest man Li Ka-shing warned that Shanghai's new free trade zone will have a "big impact" on Hong Kong, urging the city to up its game to avoid losing out, his office said Wednesday. China will allow unfettered exchange of its yuan currency in its first free trade zone, according to draft plans revealed exclusively by AFP earlier September, in a bold push to reform the world's second largest economy. The proposals showed the new Shanghai FTZ as an international trade and financial centre, which analysts say would challenge the free economy of Hong Kong.

China Telecom first-half profit up 15.9%

China Telecom said Wednesday net profit in the first six months of the year rose 15.9 percent year-on-year, citing growth in its 3G mobile operation. The country's largest fixed-line operator by subscribers posted unaudited profit of 10.21 billion yuan ($1.67 billion) for the first half, compared with 8.81 billion yuan for the same period last year. Revenue jumped 14.1 percent to 157.52 billion yuan, the company said in a filing to the Hong Kong stock exchange.

Hutchison Whampoa gets at least seven ParknShop bids: sources

By Denny Thomas and Stephen Aldred HONG KONG (Reuters) - Hutchison Whampoa Ltd <0013.HK>, controlled by Asia's richest man Li Ka-shing, has received at least seven offers for its Hong Kong supermarkets business, ParknShop, people familiar with the matter told Reuters on Friday. Hutchison set an asking price of between $3-4 billion for the business, which operates 345 stores in Hong Kong, mainland China and Macau, after a review last month.
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