The company would revisit a stake sale once trading in ports rebounds, the people said, asking not to be identified because the matter is private. A representative for PSA declined to comment.
PSA International Pte has shelved plans to sell its minority stake in the ports business of Hong Kong’s CK Hutchison Holdings amid economic headwinds, according to people familiar with the matter.
Temasek Holdings-owned PSA put the stake sale on hold after potential valuations were lower than expected, as shipping activity globally has slowed, the people said. PSA had sought about US$4 billion for its 20% share of CK Hutchison’s ports assets, Bloomberg News reported.
