China Merchants Holdings (International) Co, the owner of stakes in China's five largest container ports, will sell its interest in a Hong Kong tunnel for HK$460 million (US$59 million) to focus on its sea cargo operations.
China Merchants will sell its 13 percent stake in Hong Kong's Western Harbor Tunnel to Cross-Harbour (Holdings) Ltd, the company said in a statement to the city's stock exchange yesterday. The proceeds may be used for investing in ports and related business, the company said.