Hutchison Whampoa
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| Public company | |
| Industry | Conglomerate |
| Successor | CK Hutchison Holdings |
| Founded | 1863 |
| Founder | John Duflon Hutchison |
| Headquarters | Victoria, Hong Kong, Admiralty (near Central) |
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Key people
|
Sir Li Ka-shing (Chairman) |
| Products | Ports and related services; property and hotels; retail; energy; infrastructure; telecommunications, finance & investment |
| Revenue | US$54.035 billion (2014) |
| HK$56.01 billion (US$7.2 billion) (2011) | |
| Owner | Cheung Kong Holdings |
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Number of employees
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253,983 (2011) |
| Website | www |
| Hutchison Whampoa | |||||||
| Traditional Chinese | 和記黃埔 | ||||||
|---|---|---|---|---|---|---|---|
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| Transcriptions | |
|---|---|
| Yue: Cantonese | |
| Jyutping | wo4gei3wong4bou3 |
Hutchison Whampoa Limited (HWL) is an investment holding company based in Hong Kong. It was a Fortune Global 500 company and one of the largest companies listed on the . HWL was an international corporation with a diverse array of holdings which included the world's biggest port and telecommunication operations in 14 countries and run under the 3 brand. Its business also included retail, property development and infrastructure. It was 49.97% owned by the Cheung Kong Group.
On 3 June 2015, the company merged with the Cheung Kong Group as part of a major reorganisation of the group's businesses. The combined business was renamed CK Hutchison Holdings Limited.
Originally Hutchison Whampoa was two separate companies, both founded in the 19th century. Hong Kong and Whampoa Dock was established in 1863, by British merchant John Duflon Hutchison, and Hutchison International was formed in 1877.
In the 1960s, Hutchison International – under Colonel Sir Douglas Clague (1917–1981) – gained a controlling interest of Hong Kong and Whampoa Dock, and in 1977 Hutchison acquired all of Hong Kong and Whampoa Dock, creating Hutchison Whampoa Limited.
Although Hutchison Whampoa had a large portfolio of valuable real estate interests, in docks and retail ventures, the company eventually ran into trouble. It was rescued by The Hongkong and Shanghai Banking Corporation, with HSBC taking a 22% stake in the company and ensuring that Clague was replaced.
On 25 September 1979, at the close of trade in , HSBC announced that it was selling its stake in Hutchison Whampoa to Cheung Kong for HK$639 million.
In March 2011, Hutchison Port Holdings Trust (HPHT) announced that the company would IPO through Singapore Exchange for about US$5.4 billion. This would be the largest offering in South East Asia and surpass Petronas Chemicals offering of about $4.1 billion.
In January 2015, Li Ka-shing entered into talks with Telefónica to buy its British mobile division O2 for around $15.4 billion. In March 2015, Li Ka-shing confirmed it will be purchasing Telefónica's UK mobile division for £10.25bn subject to regulatory approval by competition regulator, Ofcom.
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