Hutchison widens Shanghai port holdings

Li Ka-shing linked Hutchison Port Holdings said it had finalized a deal that will give it four more berths in Shanghai's Waigaoqiao port development after the Hong Kong-based firm agreed to form a 50-50 joint venture with state-held Shanghai International Port Group to invest in a 50-year concession at Waigaoqiao Phase V. Assuming the deal goes through, Hutchison will control 17 berths in the port of Shanghai.