(7 February 2005, Hong Kong) NWS Holdings Limited (“NWS Holdings” or the “Group”; Stock code: 0659.HK) today announced that the Group has entered into agreements with PSA International Pte Limited (“PSA”) for the disposals of 31.4% interest in and loans to Asia Container Terminals Holdings Limited (“ACTH”) and the entire issued share capital of Keen Sales Limited (“KSL”).
According to the relevant agreement, 31.4% equity interest of ACTH, which holds 100% interest in the operator of Container Terminal No. 8 West, together with HK$264,819,765 shareholder loans will be disposed of by the Group to PSA. Total consideration amounts to HK$1.9 billion payable in cash. The Group expects a gain of approximately HK$1.1 billion from this disposal.
The Group also disposes of its 100% equity interest of KSL, which holds a 33.34% interest in the operator of Container Terminal No. 3, to PSA at a total consideration of HK$1.1 billion payable in cash. The Group expects a gain of approximately HK$0.7 billion from this disposal.
Apart from the disposals, the Group has entered into a Trust Deed with PSA and pursuant to which PSA will hold the beneficial title and interest in and to the indirect 16.67% attributable interest in ATL Logistics Centre Hong Kong Limited (“ATL”) for the benefit of the Group. The Group continues to retain an interest in the logistics industry by retaining an attributable 55.67% interests in ATL.
The transaction is expected to be completed on or before 5 April 2005. The total net gain of the above disposals is estimated to be approximately HK$1.8 billion.
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This press release is also available on the Group’s website ( www.nws.com.hk).
NWS Holdings Limited (Stock code: 0659.HK), the service flagship of New World Development Company Limited (Stock code: 0017.HK), embraces a diversified range of businesses in Hong Kong, Mainland China and Macau. These businesses can be broadly grouped under three main divisions: Service, Infrastructure and Ports. Its Service division comprises Facilities (Urban Property, General Security and the management of Hong Kong Convention and Exhibition Centre), Contracting (Hip Hing Group and NWS Engineering Group), Transport (New World First Bus, Citybus and New World First Ferry), Financial and Environmental. The Infrastructure portfolio includes energy, water treatment and waste management as well as roads and bridges projects. For Ports, NWS Holdings is principally engaged in container handling as well as logistics and warehousing.
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NWS Holdings Limited
