Hong Kong-based CK Hutchison Holdings has agreed to sell its shares in its port-operating units, including those managing key ports near the Panama Canal, to a consortium led by BlackRock Inc. The $22.8 billion deal involves selling all shares of Hutchison Port Holdings and Hutchison Port Group Holdings, which control 80% of Hutchison Ports. This transaction gives the consortium control over 43 ports across 23 countries, including major ports in Panama, Mexico, the Netherlands, Egypt, Australia, and Pakistan. The consortium will acquire a 90% stake in Panama Ports Company, which operates the Balboa and Cristobal ports along the Panama Canal.
Previously, the administration has supported the deal as it supplies the government with capital to pursue further infrastructure projects (e.g., new ports, accelerated LNG trade routes). Currently, the deal is halted by Chinese anti-trust regulators, and the US has vocally threatened the Panamanian government over concerns of national security.