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HPH gets EC approval on ECT controlling stake


Hutchison Port Holdings (HPH) has received approval from the European Commission to increase its stake in container terminal operator Europe Combined Terminals (ECT) to 60%.

This follows the Commission's decision to approve HPH's acquisition of a 35% stake in ECT in July 2001. On completion of the transaction, HPH will have control over ECT and will be entitled to further increase its stake in the future.

HPH Group Managing Director, John Meredith said, "HPH welcomes the European Commission's decision. This will allow HPH to participate fully in the management of ECT. We are looking forward to working more closely with the local management to further expand the international trade opportunities for the Port of Rotterdam."