Hutchinson to invest in New Zealand

The deal, whereby Hutchinson Port Holdings Ltd will purchase 49.9% of the Lyttelton Port Co from Christchurch City Holdings Ltd, marks its first investment into the southern hemisphere in a bid to tap into the Chinese export market.

Hutchinson is already the world’s largest port manager. The Hong Kong-based company, controlled by Asia’s wealthiest businessman Li Ka-Shing, is certainly experienced and well placed enough to meet China’s burgeoning energy resource needs.

The acquisition of Lyttelton will give Hutchinson access to a harbour in New Zealand which includes bulk-loading facilities and cranes.