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CK Hutchison Eyes Chinese Partner as CMA CGM Bids for Port Assets

Seeking to clear Chinese antitrust hurdles, CK Hutchison is courting a state-owned shipping giant, prompting CMA CGM to enter the race for its global ports.

A view of the Balboa Port is pictured after Hong Kong's CK Hutchison agreed to sell its interests in a key Panama Canal port operator, Panama City, Panama, March 4, 2025. REUTERS/Enea Lebrun/File Photo
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Containers are unloaded from the ship CMA CGM Everglade at Malta Freeport outside Birzebbuga, Malta, March 19, 2025. REUTERS/Darrin Zammit Lupi/File Photo

Overview

  • The 145-day exclusivity window with a BlackRock-MSC consortium expired on July 27 without a binding agreement.
  • In a July 28 stock exchange filing, CK Hutchison said it may invite a major PRC investor to join and restructure the transaction to secure regulatory approvals.
  • Reuters sources identified state-owned Cosco as the prospective partner, whose inclusion targets Beijing’s objections but risks US scrutiny.
  • French carrier CMA CGM confirmed interest in acquiring some of the 43 terminals, including the Balboa and Cristóbal ports at the Panama Canal.
  • Finalising the sale will require sign-off from around 50 jurisdictions, including Chinese, US, Panamanian and EU regulators.