CK Hutchison sells 80% stake in Panama Ports for $14.21 billion

CK Hutchison Holdings, based in Hong Kong, has announced a significant deal in which a consortium led by BlackRock Inc. will acquire an 80% stake in a unit managing ports in Panama for an equity value of $14.21 billion. This transaction involves the sale of a 90% interest in the Panama Ports Company, which operates the Balboa and Cristobal ports, and is influenced by U.S. President Donald Trump's push to reduce Chinese influence in the canal region. The consortium includes BlackRock, Global Infrastructure Partners, and Terminal Investment and has exclusive negotiation rights for 145 days. CK Hutchison has operated these ports for over two decades, and the deal does not include interests in its Hutchison Port Holdings Trust, which manages ports in Hong Kong and Mainland China. The sale is expected to yield over $19 billion in cash proceeds for CK Hutchison, contingent upon regulatory approvals and shareholder consent. The agreement marks a strategic shift in the control of key infrastructure in a geopolitically sensitive area.