Report: PSA buying into Hong Kong port business

Report: PSA buying into Hong Kong port business    Singapore-based international container terminal operator PSA has bid to acquire a 29-percent stake in Hong Kong’s Asia Container Terminals for HK$600 ($77 million), according to reports in Asia.
   If confirmed, this will be PSA’s first move into the profitable Hong Kong terminal business, the home market of its rival Hutchison Port Holdings.
   Officials at PSA could not be reached to comment on the report at press time.
   PSA has reportedly offered to buy the minority share in the Hong Kong terminal from Hongkong Land Holdings. CSX World Terminals, the port arm of CSX, also has a shareholding in Asia Container Terminals, one of the main container operators of the Kwai Chung port complex in Hong Kong. The terminal operates two container berths and has a capacity of more than 2 million TEUs a year.
   PSA operates terminals in 11 countries today. They are in Singapore, China, Japan, South Korea, Thailand, Brunei and India in Asia, and in Belgium, Italy, the Netherlands and Portugal in Europe.