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Hutchison Whampoa

Li Ka-Shing's electricity IPO raises $3.1b

January 22, 2014

Family business patriarch Li Ka-shing, who is also Asia's richest man, has raised $3.1 billion (€2.3 billion) dollars through an IPO of a division of his electric company.

Family business patriarch Li Ka-shing, who is also Asia's richest man, has raised $3.1 billion (€2.3 billion) dollars through an IPO of a division of his electric company.

HK Electric Investments – a subsidiary of Power Assets, which is indirectly controlled by Li's flagship company, Hutchison Whampoa – listed 4.43 billion units at HK$5.45 (€0.51) each.

Family business roundup: Massmart and America Movil

August 12, 2013

Wal-Mart mulls buyout of one of several family-owned supermarkets in Kenya; and America Movil moves to buy remaining shares in Royal KPN.

Massmart
South Africa’s Massmart Holdings, a unit of Wal-Mart, is considering the buyout of one of several family-owned retailers in Kenya, as it tries to make inroads into the African nation.

According to Nairobi-based newspaper Business Daily, Naivas, Tuskys and Nakumatt, the family-owned businesses that dominate the sector, are the main targets for the food and household-goods retailer.

Family business roundup: American Greetings, Wal-Mart and Hero MotoCorp

August 9, 2013

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation
American Greetings Corporation has returned to private ownership, following a $612 million (€458 million) buyout by the Weiss family – descendants of Jacob Sapirstein who founded the company in 1906.

Family business roundup: Acquisitions for LVMH and Hutchison Whampoa; Israel Corp to split

June 28, 2013

LVMH snapped up another Italian luxury brand while Hutchison Whampoa increased its grip on the Irish mobile networks market; Israel Corp is planning a split.

LVMH
Bernard Arnault's LVMH announced on 28 June it has bought famous Milan-based café and confectioner Pasticceria Confetteria Cova for an undisclosed sum.

Family business roundup: Kering buys France Croco; Hutchinson Whampoa results

March 27, 2013

Kering acquires crocodile skin tannery France Croco; Hutchison Whampoa posted strong results.

Kering/France Croco
Kering – formerly PPR – announced on 25 March it has bought a majority stake in crocodile skin tannery France Croco, based in Normandy.

Li Ka-shing set to make fortune from listing

January 18, 2011

Hong Kong-based conglomerate Hutchison Whampoa, controlled by billionaire Li Ka-shing, announced on 17 January plans to list its new entity, Port Holdings Trust. The initial public offering could be Singapore’s biggest ever and add significantly to the fortunes of Hong Kong’s wealthiest man.

The world’s largest container-terminal operator plans to list its deep-water port holdings in Hong Kong and southern China, while still retaining a 25% stake in the trust that currently owns the terminals.

Hutchison Whampoa results further founder's acquisition ambitions

August 6, 2010

Hutchison Whampoa, the Hong Kong-based company controlled by Li Ka-shing, announced better than expected results for the first half of 2010 on the back of growth in its ports, property and retail businesses and smaller than predicted losses in its mobile phone operations.

The group's profits were up 12% to HK$6.5 billion compared with the same period last year, while losses in the 3G mobile phone business showed an 82% fall, shrinking to HK$998 million, compared with HK$5.5 billion for first half of 2009.