大行評級|大摩:長和若出售港口資產對股東有增值作用 或派送特別股息
摩根士丹利發表報告表示,長和擬同意將其所持有的港口業務權益(不包括在香港和深圳營運的聯營公司HPHT)出售給貝萊德牽頭財團,其應佔企業價值爲182億美元。而長和擁有和記港口集團80%權益(剩餘20%股權由新加坡港務局局所擁有)。因此,長和的相關資產的有效企業價值爲182億美元。截至2023年,長和旗下港口業務擁有資產126億美元和負債40億美元,因此潛在出售價格高於其資產價值。長和預計將獲得190億美元的現金收益。該公司目前的淨債務爲176億美元,這意味着該公司可能會轉爲淨現金,或對股東送特別股息。而從長和過往歷史上亦曾有相關先例。
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