CK Hutchison Holdings Limited announced the spin-off of Cheung Kong Property Holdings Limited on January 9, 2015. The shares of Cheung Kong Property will be distributed by CKH Holdings by way of the distribution in specie to the CKH Holdings shareholders as at the record date at the distribution ratio of one Cheung Kong Property share for every one CKH Holdings share then held. Post completion, the Board of Directors of Cheung Kong Property will include Li Ka-shing as Chairman, Li Tzar Kuoi, Victor as Deputy Chairman and Managing Director, Kam Hing Lam and Ip Tak Chuen, Edmond as Deputy Managing Directors along with Chung Sun Keung, Davy, Chiu Kwok Hung, Justin, Chow Wai Kam, Pau Yee Wan, Ezra and Woo Chia Ching, Grace.

The transaction is subject to a number of conditions precedent, including the listing committee granting approval for the listing of Cheung Kong Property's shares by way of introduction; the revenue of the Hutchison Whampoa Limited's non-property interests and the Cheung Kong's non-property interests for the year ended December 31, 2014 being not less than HKD 500 million under the Listing Rules; profits of the CK Property Group for the three years ended December 31, 2014 meeting the minimum profit requirement; completion of the Cheung Kong reorganization proposal; completion of acquisition of Husky Energy Inc. and Hutchison, regulatory requirements having been obtained and all regulatory filing obligations having been complied with and others. Bank of America Merrill Lynch and HSBC Corporate Finance have been appointed as the joint sponsors in relation to the spin-off. The transaction is expected to close in the end of the first half of 2015. As announced on February 5, 2015, dealings in the shares will cease on March 10, 2015 and listing will be withdrawn on March 18, 2015 and dealings in the CKH Holdings Shares will commence on March 18, 2015.

As of March 17, 2015, Cheung Kong Property submitted an application to the stock exchange for the listing of, and permission to deal. CK Hutchison Holdings Limited completed the reorganization proposal as on March 18, 2015. The merger proposal, the spin-off proposal and all transactions there under are subject to compliance with applicable legal and regulatory requirements. As of March 31, 2015, Cheung Kong announced that a meeting of its shareholders will be held on April 20, 2015. On April 20, 2015, Cheung Kong shareholders approved the deal. As of May 4, 2015, the Board of Cheung Kong Property gave conditional approval to the distribution of business. As on May 19, 2015, the transaction received court approval. The transaction is expected to close on June 3, 2015.

Leonteq Securities AG is assisting in the transaction.

Anglo Chinese Corporate Finance, Limited acted as financial advisor to Cheung Kong Property. Alex Bidlake, Craig Dally, Rob Cleaver, Pam Shores of Linklaters acted as legal advisor for the banks in the deal. Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as financial advisor to Cheung Kong Property Holdings Limited. Maples and Calder acted as legal advisor for CK Hutchison, Hutchison Whampoa and Cheung Kong Property Holdings. Woo Kwan Lee & Lo and Grace Huang, Ken Martin, Teresa Ko, Andrew Heathcote, Daniel French, William Robinson and Georgia Dawson of Freshfields Bruckhaus Deringer acted as legal advisor for Cheung Kong. HSBC and Merrill Lynch acted as sponsors for CK. Linklaters acted as legal advisor for HSBC and Merrill Lynch.Maples Fund Services acted as registrar for the transaction.

CK Hutchison Holdings Limited completed the spin-off of Cheung Kong Property Holdings Limited for HKD 270 billion on June 3, 2015.