24.03.2014 10:58:00
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Hutchison Whampoa Limited -- Moody's: Hutchison Whampoa's sale of stake in A.S. Watson is credit positive
Hong Kong, March 24, 2014 -- Moody's Investors Service says that Hutchison Whampoa Limited's (HWL, A3 stable) announcement that it intends to sell a 24.95% stake in the company's retail businesses -- which exclude its luxury perfumery and cosmetics business, Marionnaud -- to the Singapore government's (Aaa stable) investment firm, Temasek Holdings (Private) Limited (Aaa stable) for HKD44 billion ($5.66 billion) is credit positive.