Reports out of Hong Kong yesterday confirmed court approval had been granted for the merger of Li Ka-shing’s CK Hutchison and its associate Hutchison Whampoa completing the last hurdle in his business empire realignment. Li assured shareholders earlier this year that they would see augmented dividends once the merger of the two companies had been confirmed.
Li announced earlier this year that all of his flagship companies' non-property assets, including ports, telecoms, retail, energy and infrastructure would be injected into the new vehicle, CK Hutchison Holdings, incorporated in the Cayman Islands.
All of the property businesses, including those overseas, of the two companies would then be merged into Cheung Kong Property Holdings, which would seek a stock exchange listing and immediately become one of Hong Kong’s biggest property companies.
According to Hutchison’s filing to the stock exchange Hutchison shares on the Hong Kong Stock Exchange are expected to be withdrawn on June 3.
