PSA to Buy 20% of Hutchison Ports Unit

Singapore port operator PSA International Ltd. will pay $4.39 billion for a 20% stake in the ports unit of Hong Kong's Hutchison Whampoa Ltd., the world's largest private port operator, the companies said.

The deal will help expand the reach of PSA, which has been on the acquisition trail.

Hutchison operates 42 ports in 20 countries and PSA runs 19 ports in 11 countries. None are in the United States.