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BlackRock, et al to purchase Panama ports [1]
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Date: 2025-03-04
The Hong Kong-based conglomerate that operates ports near the Panama Canal has agreed to sell shares of its units that operate the ports to a consortium including BlackRock Inc., after President Donald Trump alleged Chinese interference with the operations of the critical shipping lane.
In a filing, CK Hutchison Holding said Tuesday that it would sell all shares in Hutchison Port Holdings and all shares in Hutchison Port Group Holdings. The two units hold 80% of the Hutchison Ports group that operates 43 ports in 23 countries.
The consortium, comprised of BlackRock (BLK), Global Infrastructure Partners and Terminal Investment Limited will acquire 90% interests in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal in Panama, according to the filing.
…
Hutchison Ports had recently been awarded a 25-year no-bid extension to run the ports, but an audit looking at that extension was already underway. Observers believed the audit was a preliminary step toward eventually rebidding the contract, but rumors had swirled in recent weeks that a U.S. firm close to the White House was being lined up to take over.
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