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2mo ago

Chinese Authorities Investigate BlackRock's $22.8 Billion Panama Ports Deal

CK Hutchison's sale of global port assets faces scrutiny from Beijing and Panama, as geopolitical tensions between the U.S. and China escalate.

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Containers and cranes at the Port of Balboa at the Pacific entrance of the Panama Canal in Panama City, Panama, on Tuesday, Feb. 25, 2025. Panama is considering canceling its contract with Hutchison Ports PPC, a Hong Kong-based company that operates ports near the Panama Canal, to defuse President Donald Trump's threats about countering China's influence. Photographer: Walter Hurtado/Bloomberg via Getty Images
FILE - Cranes load a cargo ship at the Panama Canal's Balboa Port in Panama City, Sept. 9, 2024. (AP Photo/Matias Delacroix, File)

Overview

  • CK Hutchison agreed to sell its global ports business, including two key ports near the Panama Canal, to a BlackRock-led consortium for $22.8 billion.
  • The deal, still pending final approval, is under review by the Panama Maritime Authority and faces investigations by Chinese agencies for security and antitrust concerns.
  • Beijing has criticized the sale as a betrayal of Chinese national interests, with state media accusing CK Hutchison of prioritizing profit over patriotism.
  • Hong Kong leader John Lee acknowledged widespread public concern over the transaction and called for serious attention to the criticisms.
  • U.S. President Donald Trump has celebrated the agreement as a step to reduce Chinese influence near the Panama Canal, despite the canal itself being unaffected by the deal.