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Li Ka-shing's two major companies announce restructure plan

Xinhua, January 9, 2015 Adjust font size:

Hong Kong's leading multinational corporations Cheung Kong Holdings and Hutchison Whampoa on Friday announced a merge and reorganization plan to restructure their operations into two new companies respectively specializing in real estate business and all other non-real estate businesses.

The two super international conglomerates are the main pillars of the family businesses owned by Hong Kong's wealthiest man Li Ka- shing.

According to the plan, the current listed Cheung Kong Holdings and Hutchison Whampoa will swap their stocks into the two new companies at different conversion ratios. The new company specializing in real estate business will remain the No. 1 stock code in Hang Seng Index. Endi