Hutchison Whampoa Drops Plans to Sell $4B Grocery Chain

Law360, New York (October 18, 2013, 3:04 PM EDT) -- Hong Kong investment company Hutchison Whampoa Ltd. said Friday that it has ditched plans to sell popular supermarket chain ParknShop in a deal insiders expected would bring in as much as $4 billion, opting instead to focus on expanding the brand in-house.

The ParknShop auction had been in the dealmaking spotlight since the summer, when rumors first bubbled up that Hutchison Whampoa Chairman Li Ka-shing, Asia's richest man, was jostling for a ParknShop sale. Media and analysts closely followed sale speculation, including reported bids from a...
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