View source for Hutchison Whampoa

{{Short description|Hong Kong holding company}}
{{Advert|date=March 2023}}
{{EngvarB|date=July 2014}}{{Use dmy dates|date=July 2014}}
{{Infobox company
| name = Hutchison Whampoa <br/> {{lang|yue-HK|和記黃埔}}
| logo = [[File:Hutchison Whampoa Limited Logo.svg|270px]]
| type = 
| traded_as = 
| foundation = {{start date and age|1863}}
| fate = Merged with [[Cheung Kong Holdings]]
| successor = [[CK Hutchison Holdings]]
| founder = John Duflon Hutchison
| location = [[Central, Hong Kong|Central]], Hong Kong
| origins = 
| key_people = 
| area_served = 
| industry = [[Conglomerate (company)|Conglomerate]]
| products = Ports and related services; property and hotels; retail; energy; infrastructure; telecommunications, finance & investment
| services = 
| revenue = US$54.035 billion (2014)
| operating_income = 
| net_income = {{Unbulleted list|{{Increase}} HK$67.16 billion (US$8.66 billion) (2014)|HK$31.11 billion ($4.01 billion) (2013)}}
| num_employees = 253,983 (2011)
| parent = 
| divisions = 
| subsid = 
| slogan = 
| homepage = {{URL|http://www.hutchison-whampoa.com}}
| defunct = {{End date and age|2015|06|03|df=y}}
| footnotes = 
}}
{{Chinese
| t = 和記黃埔
| s = 和记黄埔
| j = wo<sup>4</sup>gei<sup>3</sup>wong<sup>4</sup>bou<sup>3</sup>
| p = Héjì Huángpǔ
}}

'''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 '''[[Hutchison 3G|3]]''' brand. Its businesses also included retail, property development, and infrastructure. 

Formed in 1863 and 1877 respectively by British entrepreneurs, it was sold in 1979 to [[Li Ka-shing]], a Hong Kong businessman.
In 2015, the company merged with [[Cheung Kong Holdings|Cheung Kong Group]] as part of a major reorganisation of the group's businesses. The combined business was renamed [[CK Hutchison Holdings]].

==History==
Hutchison Whampoa originated as two separate companies, both founded in the 19th century. [[Hong Kong and Whampoa Dock]] was formed in 1863 by John Couper, as a port management company. Hutchison International, a wholesale trading company and importer of consumer products, was founded in 1877 by John Duflon Hutchison.<ref>{{Cite book |last=Grosse |first=Robert |url=https://books.google.com/books?id=dRvPCgAAQBAJ&dq=douglas+clague+hutchison&pg=PA235 |title=Emerging Markets: Strategies for Competing in the Global Value Chain |date=2015-11-03 |publisher=Kogan Page Publishers |isbn=978-0-7494-7450-8 |language=en}}</ref><ref>{{Cite web |url=http://www.hutchison-whampoa.com/eng/about/milestones/1828.htm |title=Hutchison-Whampoa: Milestones 1828–1959 |access-date=30 June 2007 |archive-url=https://web.archive.org/web/20070624154722/http://www.hutchison-whampoa.com/eng/about/milestones/1828.htm#1828 |archive-date=24 June 2007 |url-status=dead |df=dmy-all }}</ref>

In 1965, Hutchison International under the leadership of Sir [[Douglas Clague]] gained a controlling interest of Hong Kong and Whampoa Dock. He pursued an aggressive path of diversification, acquiring [[A.S. Watson Group|A.S. Watson]], Davie, Boag and Co. Ltd., Hong Kong and Whampoa Dock Co. Ltd., and China Provident Co. Ltd. A decade later, however, the conglomerate reported losses of HK$130 million and became unable to service its growing debt.<ref>{{Cite web |url=http://www.hutchison-whampoa.com/eng/about/milestones/1960.htm |title=Hutchison-Whampoa: Milestones 1960–1969 |access-date=30 June 2007 |archive-url=https://web.archive.org/web/20070630012747/http://www.hutchison-whampoa.com/eng/about/milestones/1960.htm#1960 |archive-date=30 June 2007 |url-status=dead |df=dmy-all }}</ref><ref>{{Cite book |last=Sison |first=Alejo G. |url=https://books.google.com/books?id=Uhqqfr86LkQC&dq=Hutchison+douglas+clague&pg=PA125 |title=Corporate Governance and Ethics: An Aristotelian Perspective |date=2010-01-01 |publisher=Edward Elgar Publishing |isbn=978-1-84844-294-8 |language=en}}</ref>

In 1975, Clague lost control of Hutchison Whampoa due to disastrous speculation on foreign currency and stock markets. [[HSBC]] refused to bail out the company. HSBC took a 22% stake in the company and replaced Clague.<ref name="otherhandover">{{Cite web |date=2007-09-30 |title=The Other Handover - TIME |url=http://www.time.com/time/magazine/article/0,9171,1090780,00.html?iid=chix-sphere |access-date=2024-03-01 |archive-url=https://web.archive.org/web/20070930035624/http://www.time.com/time/magazine/article/0,9171,1090780,00.html?iid=chix-sphere |archive-date=30 September 2007 }}</ref> In 1977, Hutchison Whampoa Limited was formed as a result of merger between Hutchison International Limited and Hong Kong and Whampoa Dock Company Limited. A year later Hutchison Whampoa was listed on the stock exchange.<ref>{{Cite book |url=https://books.google.com/books?id=ltEd8wIlr1UC&dq=Hutchison+Whampoa&pg=PA39 |title=考研英语阅读精讲精练 |date=2005 |publisher=清华大学出版社有限公司 |isbn=978-7-302-10872-6 |language=en}}</ref>

In 1979, [[Michael Sandberg, Baron Sandberg|Michael Sandberg]] convinced [[Guy Sayer|G. M. Sayer]] to not hand over a restructured Hutchison Whampoa to another British firm. The bank instead sold off the company on generous terms to [[Li Ka-shing]]<ref>{{Cite book |last=Goodstadt |first=Leo F. |url=https://books.google.com/books?id=ODkBylmWiWwC&dq=douglas+clague+hutchison&pg=PA159 |title=Uneasy Partners: The Conflict Between Public Interest and Private Profit in Hong Kong |date=2005-01-01 |publisher=Hong Kong University Press |isbn=978-962-209-733-9 |language=en}}</ref> On 25 September 1979, at the close of trade in [[London Stock Exchange|London]], HSBC announced that it was selling its 22% stake in Hutchison Whampoa to [[Cheung Kong Holdings]] for HK$639 million.<ref name=otherhandover/>

During the 1980s, Hutchison Whampoa bought 33% of [[Hongkong Electric Company|Hong Kong Electric Holdings]]. In 1985, [[Hutchison Asia Telecom Group|Hutchison Telecommunications]], a mobile phone service, was launched, which became a major player in telecommunications in the 1990s. By 2004, Li's equity in Hutchison Whampoa had gradually increased to 49.9%.<ref>{{Cite book |last1=Zhang |first1=Wenxian |url=https://books.google.com/books?id=24P3M4hrpWwC&dq=Hutchison+Whampoa&pg=PA82 |title=Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders |last2=Alon |first2=Ilan |date=2009 |publisher=Edward Elgar Publishing |isbn=978-1-84844-951-0 |language=en}}</ref>

In March 2011, Hutchison Port Holdings Trust (HPHT) announced that the company would [[Initial public offering|IPO]] through Singapore Exchange for about US$5.4 billion. This would be the largest offering in South East Asia and surpass [[Petronas Chemicals]]' offering of about $4.1 billion.<ref>{{cite web|url=http://uk.reuters.com/article/us-hutchisonport-ipo-idUKTRE72A0EE20110311|archive-url=https://web.archive.org/web/20170206184950/http://uk.reuters.com/article/us-hutchisonport-ipo-idUKTRE72A0EE20110311|url-status=dead|archive-date=6 February 2017|title=Hutchison ports unit prices $5.4 billion Singapore IPO: sources|first=Fiona|last=Lau}}</ref>

In January 2015, Li Ka-shing entered into talks with [[Telefónica]] to buy its British mobile division, [[O2 (UK)|O2]], for around $15.4 billion,<ref>{{cite news|title=Li Ka-shing in talks to buy O2 for £10bn|url=https://www.bbc.co.uk/news/business-30946005|access-date=26 January 2015|work=BBC News|date=23 January 2015}}</ref> but the deal was blocked in 2016 by the EU's [[European Commissioner for Competition|Competition Commissioner]].<ref>{{Cite news|url=https://www.bbc.co.uk/news/business-36266924|title=EU blocks Three's takeover of O2|date=11 May 2016|newspaper=BBC News: Business|access-date=5 February 2017|language=en-GB}}</ref>

In January 2015, Li Ka-shing confirmed plans for Cheung Kong Holdings to purchase the remaining shares in Hutchison Whampoa that it did not already own, and merge the two companies as CK Hutchison Holdings. The merger is part of a larger reorganisation of Li's businesses, which will involve the spin-off of property assets into Cheung Kong Property.<ref>{{cite news|last1=Yun|first1=Michelle|last2=Chan|first2=Vinicy|title=Cheung Kong to Buy Out Hutchison in $24 Billion Restructuring|url=https://www.bloomberg.com/news/articles/2015-01-09/cheung-kong-to-buy-out-hutchison-whampoa-spin-off-property-arm|access-date=12 March 2015|work=Bloomberg Business|date=9 January 2015}}</ref> The new holding company has been incorporated in the [[Cayman Islands]], rather than Hong Kong.<ref>{{cite news|last1=Sito|first1=Peggy|last2=Li|first2=Sandy|title=Li Ka-shing's two firms set for merger as Cheung Kong shareholders approve revamp|url=https://www.scmp.com/business/companies/article/1722910/cheung-kong-shares-suspended-shareholders-meet-talk-revamp|access-date=12 March 2015|work=South China Morning Post|date=25 February 2015}}</ref>

In May 2015, Hutchison revealed plans to sell one-third of its stake in its British-based mobile phone businesses for a potential fee of $4.3 billion to five investors including [[GIC Private Limited]], [[Canada Pension Plan Investment Board]], [[Abu Dhabi Investment Authority]], [[BTG Pactual]] and [[Caisse de dépôt et placement du Québec]].<ref>{{cite web|author=Elzio Barreto |url=https://www.reuters.com/article/hutchisonwhampoa-uk-idUSL4N0XZ18A20150508 |title=Hutchison to sell one-third stake in UK mobile unit for $4.3 bln |publisher=Reuters |date=7 May 2015 |access-date=8 May 2015}}</ref>

==Operations==
HWL operated in 54 countries and employed around 230,000 staff worldwide. The company had six core businesses, most of which transferred to CK Hutchison in 2015:

===Ports and related services===
[[Hutchison Port Holdings]] (HPH) operated across Europe, the Americas, Asia, the Middle East and Africa. It operated in five of the seven busiest container ports in the world, handling 13% of the world's container traffic. It operated [[container terminal]]s in Panama, as well as Mexico and other parts of the Americas.{{cn|date=March 2025}} 

In March 2025, the Li family sold HPH to [[BlackRock]] after several weeks of negotiations saying it felt "political pressure" as the Trump administration was pursuing its America First foreign policy.<ref>{{Cite news |last=Eavis |first=Peter |last2=Farrell |first2=Maureen |date=2025-03-04 |title=BlackRock Will Buy Panama Canal Ports from CK Hutchison |url=https://www.nytimes.com/2025/03/04/business/blackrock-panama-canal-ports-hutchison.html |access-date=2025-03-05 |work=The New York Times |language=en-US |issn=0362-4331}}</ref>

===Property and hotels===
From office buildings in Hong Kong, Beijing, Shanghai, to luxury residential properties in the United Kingdom, [[Hutchison Whampoa Property]] develops and invests in real estate. Together with [[Cheung Kong Holdings]], HWL has set up a joint-venture company, [[Harbour Plaza Hotel Management]] to operate and manage hotels under the portfolio of the Hutchison Property division.{{cn|date=March 2025}}

===Retail===
[[A.S. Watson Group]] (ASW), HWL's retail arm, operates its flagship retail chains in Asia such as  [[Watsons Personal Care Stores|Watsons]], [[ParknShop]] supermarket, [[PARKnSHOP#taste|TASTE food galleria]], GOURMET boutique style fine food hall, [[PARKnSHOP#great|GREAT Food Hall]], Fortress electrical appliances store, [[Watson's Wine Cellar]] and [[Nuance-Watson]] duty-free operator. In Europe, ASW's retail network comprises health and beauty chains: [[DC (store)|DC]], [[Drogas]], [[Kruidvat]], [[Rossmann (company)|Rossmann]], [[Savers Health & Beauty]], [[Superdrug]], {{ill|Trekpleister|fr||nl|Trekpleister (drogisterij)}}, [[Spektr and Watson's]], as well as luxury perfumeries and cosmetics retail brands: Marionnaud, [[ICI Paris XL]] and [[The Perfume Shop]]. A.S. Watson is the world's largest health and beauty retailer.{{cn|date=March 2025}}

===Infrastructure===
[[Cheung Kong Infrastructure]] (CKI), HWL's infrastructure arm, is a diversified infrastructure company with businesses in transportation, energy, infrastructure materials, water plants and related operations.

===Energy===
HWL was a major shareholder of [[Husky Energy]], one of Canada's largest energy and energy related companies, holding 33.97%.{{cn|date=March 2025}}

===Telecommunications===
HWL owned{{what|date=September 2016}} the "[[Hutchison 3G|3]]" brand. It also owns 60.4%<ref>{{Cite web|url=http://www.irasia.com/listco/hk/hutchison/interim/ir45813-e_hwl0013ir.pdf|archive-url=https://web.archive.org/web/20110718144918/http://www.irasia.com/listco/hk/hutchison/interim/ir45813-e_hwl0013ir.pdf|url-status=live|title=Hutchison Whampoa Limited 2009 Interim Report|archive-date=2011-07-18|access-date=2020-01-14}}</ref> of [[Hutchison Asia Telecommunications]] (HAT), which provides mobile phone networks and data services in Asia. The company's subsidiary 3 Group Europe owns its '3' branded businesses in Europe. Another 1% of HAT is owned directly by [[Cheung Kong Holdings]], the holding behind Cheung Kong group to which HWL belongs.  Additionally, HWL is an official backer of the [[.mobi]] [[top level domain]] created specifically for the mobile internet and has launched the mobile portal [https://web.archive.org/web/20070902132424/http://www.three.mobi/ Three.mobi] under its "3" brand.<ref>{{cite web|url=http://mtld.mobi/company/about/investors|title=Mobile and Web Services - Afilias|website=mtld.mobi|access-date=12 September 2007|archive-url=https://web.archive.org/web/20070820165736/http://mtld.mobi/company/about/investors|archive-date=20 August 2007|url-status=dead}}</ref><ref>{{Cite web |url=http://www.three.mobi/about3.html |title=three – 3 the company |access-date=12 September 2007 |archive-url=https://web.archive.org/web/20070827133734/http://three.mobi/about3.html |archive-date=27 August 2007 |url-status=dead |df=dmy-all }}</ref>  Hutchison Whampoa attempted to purchase O2 for £10.25 billion in March 2015,<ref name="Hutchison">{{cite web|url=https://www.bbc.co.uk/news/business-32043874 |title=Telefonica finalises £10bn sale of O2 mobile phone firm |publisher=BBC News |date=24 March 2015 |access-date=24 March 2015}}</ref> but the European Commission blocked the acquisition in May 2016.<ref name="EC">{{cite web|url=http://europa.eu/rapid/press-release_MEMO-16-1705_en.htm |title= Mergers: Commission prohibits Hutchison's proposed acquisition of Telefonica UK – Factsheet |publisher=European Commission |date=11 May 2016 |access-date=11 May 2016}}</ref>

==Criticisms==
Hutchison Whampoa has received criticism from charities such as the [[Burma Campaign UK]] and appear on the charity's 'dirty list' for their involvement in trade with the military [[Military dictatorship|junta]] in Burma.  They state that the company's subsidiary Myanmar International Terminals Thilawa (MITT) is "strategically positioned to facilitate and service Myanmar's international trade"<ref>[http://www.burmacampaign.org.uk/dirty_list/dirty_list_details.html#h The Dirty List] {{webarchive|url=https://web.archive.org/web/20081016000833/http://www.burmacampaign.org.uk/dirty_list/dirty_list_details.html#h|date=16 October 2008}}</ref> and are concerned about the role foreign investment plays in "perpetuating" the country's brutal regime.<ref>[http://www.burmacampaign.org.uk/dirty_list/dirty_list_briefing.html Dirty List – Campaigns – Burma Campaign UK] {{Webarchive|url=https://web.archive.org/web/20081215103638/http://www.burmacampaign.org.uk/dirty_list/dirty_list_briefing.html |date=15 December 2008 }}. Burmacampaign.org.uk. Retrieved on 18 September 2013.</ref>

==See also==
{{portal|Companies}}
* [[Jardine Matheson Group]]
* [[List of charities in the People's Republic of China]]
* [[List of companies in Hong Kong]]
* [[List of trading companies]]
* [[Swire Group]]

== References ==
{{Reflist|33em}}

==External links==
{{Commons category|Hutchison Whampoa}}
*[http://www.hutchison-whampoa.com/ Hutchison Whampoa] {{in lang|en|zh}}
*[http://biz.yahoo.com/ic/42/42418.html Hutchison Whampoa Limited Company Profile] Yahoo! Finance

{{CK Hutchison Holdings}}
{{INQ Mobile}}
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[[Category:Financial services companies established in 1863]]
[[Category:1863 establishments in Hong Kong]]
[[Category:2015 mergers and acquisitions]]
[[Category:Predecessors of CK Hutchison Holdings]]
[[Category:Companies formerly listed on the Hong Kong Stock Exchange]]
[[Category:Conglomerate companies of China]]
[[Category:Mobile phone companies of Hong Kong]]
[[Category:Port operating companies]]
[[Category:Multinational companies headquartered in Hong Kong]]
[[Category:Trading companies of Hong Kong]]
[[Category:Former companies in the Hang Seng Index]]
[[Category:Retail companies of China]]
[[Category:Conglomerate companies of Hong Kong]]