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CK Hutchison's $19 Billion Port Sale to BlackRock Faces Chinese Criticism and Panamanian Review

The deal, involving strategic ports near the Panama Canal, highlights geopolitical tensions and awaits Panama's government approval.

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 to a BlackRock Inc-backed consortium, amid pressure from U.S. President Donald Trump to curb China's influence in the region, Panama City, Panama, March 4, 2025. REUTERS/Enea Lebrun//File Photo
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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 has agreed to sell most of its global ports business, including assets near the Panama Canal, to a BlackRock-led consortium for over $19 billion.
  • The Panamanian government is reviewing the deal, requesting legal and financial documents after claiming it was not informed in advance.
  • Chinese state media has condemned the sale as a betrayal of national interests, warning of increased costs and risks for Chinese shipping and trade.
  • CK Hutchison has decided not to hold earnings calls this week, following backlash over the transaction and pressure from Chinese authorities.
  • U.S. President Donald Trump has praised the deal as a move to reduce Chinese influence, while making unsubstantiated claims about U.S. plans to 'reclaim' the Panama Canal.