WELLINGTON: Hutchison Whampoa Ltd, the world's largest port manager, said it will buy a stake in New Zealand's biggest coal-shipment facility, making its first investment in the southern hemisphere to tap growing exports to China.
Hutchison's closely held unit Hutchison Port Holdings Ltd will pay NZ$107mil (US$72mil), or NZ$2.10 a share, for 49.9% of Lyttelton Port Co from Christchurch City Holdings Ltd, according to press statements yesterday.
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