Cheung Kong (Holdings) Limited (SEHK: 0001) under Li Ka-shing has sold off a 6.03% stake in ARA Asset Management, cashing in rich money. Target company is currently listed in Singapore, 13.87% held by Cheung Kong Holdings formerly. The investor has teamed up with ARA Asset Management founder John Lim, totally selling off a 20.1% stake in target company to local consortium Straits Trading Company for USD 238 million or HKD 1.86 billion.
Upon completion, the stake for Cheung Kong Holdings in ARA Asset Management will dilute to 7.84% while that for Lim from 33.32% to 19.25%.
Source:
http://www.sinocast.com/readbeatarticle.do?id=101104
