HWL Expands Strategic Review of Its Retail Businesses
(Hong Kong, 18 October 2013) After completing an initial strategic review with its advisors Goldman Sachs and Bank of America Merrill Lynch of its supermarket retail business operating under the head brand name of “PARKnSHOP” (“PNS”), Hutchison Whampoa Limited has concluded that a sale of PNS by way of a private market transaction at this time would not deliver maximum value to the shareholders of the Company.
Accordingly, the Company has decided not to pursue a private sale of its PNS business at this time and will continue to implement an accelerated growth strategy with a particular focus in Mainland China.
The Company has also decided to expand its strategic review process to include all options for maximising the value and future growth potential of the A S Watson & Company, Limited retail businesses going forward, including the possibility of public offerings of all or some of those businesses in appropriate markets. However, the Company will not consider giving up control of any of the businesses.
For inquiries, please contact:
Hutchison Whampoa Limited
Tel: (852) 2128 1207
Fax: (852) 2128 1766