What is name of the company that resulted from the merging of Cheung Kong Limited and a Fortune Global 500 investment holding company based in Hong Kong?
Hutchison Whampoa Hutchison Whampoa Limited (HWL) was an investment holding company based in Hong Kong. It was a Fortune Global 500 company and one of the largest companies listed on the Hong Kong Stock Exchange. HWL was an international corporation with a diverse array of holdings which included the world's biggest port, and telecommunication operations in 14 countries that were run under the 3 brand. Its businesses also included retail, property development and infrastructure. It was 49.97% owned by the Cheung Kong Group.
China COSCO Shipping China COSCO Shipping Corporation Limited, also referred to as the China COSCO Shipping Group or China COSCO Shipping, is a Chinese business conglomerate and state-owned enterprise headquartered in Shanghai. The group is engaged in a variety of business sectors, with a focus on integrated logistics, shipping, finance services, and equipment manufacturing. The company was formed by the merger of the COSCO Group and the China Shipping Group in January 2016. The merger was precipitated by an ongoing downturn in the containerized-ocean-freight and break bulk shipping industries that stymied the profits of both groups and motivated them to unite and endure the decline together. The merged entity is composed of several business clusters each of which is managed by one or more subsidiaries. Its core business cluster is container, dry-bulk, and petroleum shipping services.