2
5.
In 1979, Cheung Kong Holdings acquired over
As a
25% of the issued capital of Green Island Cement Company Limited which was formerly under British control. result, Mr Li Ka-shing became Chairman of the company. By the end of 1986, Cheung Kong held a 52.05% interest in Green Island. In February 1987 a scheme of arrangement was proposed, and finalised on 26 May, which resulted in Cheung Kong holding 42.9% of the issued shares of the new company, Green Island (Holdings) Limited, with 17.6% being held by Brumen Limited, a company closely related to the Bank of China Group.
6.
In January 1985, using HWL, Cheung Kong acquired Hong Kong Land's 34% shareholding in Hong Kong Electric Holdings Limited. Simon Keswick and D J Davies of Jardine resigned as chairman and directors. They were replaced by Simon Murray and G C Magnus of HWL as Chairman and Deputy Chairman. In May 1987 a proposal was put forward to reorganise the activities of Hong Kong Electric Holdings but this will have no significant effect on the relationship between Electric Holdings and HWL. After the reorganisation, which will become effective in June, HWL will hold 52.7% of a new company (Cavendish) which in turn will hold 23.3% of Hong Kong Electric Holdings. Hong Kong Electric Holdings Limited will still remain in the "camp" of Cheung Kong.
7.
To summarise, British "hongs" now under Cheung
Kong control are
(1)
Hutchison Whampoa Limited
(2)
(3)
(4)
(5)
Hong Kong International Terminals Limited) Hong Kong United Dockyards Limited Hong Kong Electric Holdings Limited Green Island (Holdings) Limited
HWL Group
Companies presently under Sir Yue-Kong Pao's control
8.
In 1980, Sir Yue-kong Pao, using his company World International Holdings Limited ("World") acquired 45% control in Wharf Holding Limited (formerly known as Hong Kong & Kowloon Wharf Godown Company Limited) through a hostile takeover. Wharf was previously under the control of Jardine through board control. As a result of the acquisition by Sir Yue-kong Pao, Newbigging stepped down from the chair and was replaced by Sir Yue-kong Pao. September 1986, Sir Yue-kong Pao retired as chairman and was succeeded by Mr P C Woo, his son-in-law. As a consequence of the takeover of Wharf by World, Wharf's subsidiaries and associated companies also came under Sir Yue-kong Pao's control. These companies include Harbour Centre Development Limited, Container Services Limited, the Star Ferry Company Limited, Hong Kong
In
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