March 21, 2019 / 9:40 AM / 6 months ago

CK Hutchison says to support Temasek shedding stake in A.S. Watson

HONG KONG, March 21 (Reuters) - CK Hutchison Holdings Ltd , the ports-to-telecoms arm of retired billionaire Li Ka-shing, said on Thursday it would support Temasek Holdings’ plans to offload a part of its stake in beauty and health retailer A.S. Watson.

CK Hutchison is not considering to sell its stake in A.S. Watson, the company said.

Singapore state investor Temasek is in talks to sell a small portion of its 24.9 percent stake in A.S. Watson, a source said in January. Temasek invested about $5.7 billion in the company in 2014. (Reporting by Donny Kwok and Clare Jim; Editing by Shreejay Sinha)

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