Hutchison may raise stake

Hutchison may raise stake

HONG KONG (Dow Jones): The container port arm of Hutchison Whampoa Ltd. is considering increasing its stake in Jakarta International Container Terminal, a Hong Kong newspaper reported Tuesday.

However, a spokeswoman from Hutchison Port Holdings Ltd. declined to comment on the newspaper report and said the stake wasn't changing.

The Hong Kong Economic Journal quoted sources in Indonesia as saying Hutchison Port may increase its stake in the Indonesian terminal operator from 51 percent to 65 percent.

Grosbeak, a wholly owned subsidiary of Hutchison Port Holdings and a unit of Hutchison Whampoa Ltd., acquired 51 percent of Jakarta International Container Terminal for US$243 million in April.

The Hutchison spokeswoman said the container port operator will continue to hold 51 percent of the Indonesian port.

Jakarta International Container Terminal is owned by PT Pelabuhan Indonesia II.