--FILE--A signboard of COSCO (China Ocean Shipping (Group) Company) is pictured at its headquarters building in Beijing, China, 30 March 2013. Two state-owned Chinese port operators are spending 403.4 million Singapore dollars (US$317 million) for a major stake in Asia Container Terminals Holdings Ltd., which is owned by Hong Kong billionaire Li Ka-shings Hutchison Port Holdings Trust. Cosco Pacific Ltd. the port unit of China Ocean Shipping (Group) Co., will take a 40% stake in the Hong Kong terminal, while China Shipping Terminal Development (Hong Kong) Co., a unit of China Shipping (Group) Co., will take a 20% interest, Hutchison Port said in a filing to Singapores stock exchange on Thursday (13 March 2014). The deal comes just a year after Hutchison Port paid US$505 million to buy Asia Container Terminals from Dubai-based DP World Ltd. and PSA China Pte. Ltd. Hutchison Port Holdings said it would book a US$16 million gain from the latest sale.
