BlackRock Buys Panama Canal Ports from Chinese Company
BlackRock Buys Panama Canal Ports from Chinese Company
CK Hutchison Holdings Ltd., the Hong Kong-based conglomerate, agreed to sell control of a unit that operates ports near the Panama Canal after pressure from US President Donald Trump to limit Chinese interests in the region.
A consortium including BlackRock Inc., Global Infrastructure Partners, and Terminal Investment Ltd. reached a deal in principle to acquire units that hold 80% of the Hutchison Ports group, which operates 43 ports in 23 countries.
The consortium will also acquire 90% of Panama Ports Co., which operates the two ports in Balboa and Cristobal.
The transactions will deliver cash proceeds of $19 billion to CK Hutchison, the company said Tuesday in a statement.
Trump has said he wants the US to regain control of the Panama Canal, which was handed over to the local government in 1999, arguing without evidence that China has taken over the waterway.
Panama’s government had been weighing whether to cancel its contract with CK Hutchison to operate the ports, Bloomberg reported last month.
Hutchison has run the ports in Panama’s Balboa and Cristobal under a concession that was first signed in 1997 and, in 2021, extended until 2047.
Russian General Killed by Car Bomb in Moscow
Apr 25, 2025
2 min
New Mexico Judge and Wife Arrested for Harboring 3 Gang Members
Apr 25, 2025
2 min
George Santos to Be Sentenced Friday in Federal Fraud Case
Apr 25, 2025
2 min
Trump Selling ‘Trump 2028’ Hats, Teasing Possible 3rd Term
Apr 25, 2025
1 min
MTG Seriously Considering Senate Run
Apr 25, 2025
4 min
China May Exempt Some US Goods from Tariffs
Apr 25, 2025
2 min
India-Pakistan Tensions Escalate After Kashmir Attack
Apr 25, 2025
5 min
Sweden Offers Migrants €55,000 to Go Home
Apr 25, 2025
2 min
Trump Tells Putin to 'STOP!' After Russian Strikes on Kyiv
Apr 25, 2025
3 min
Judge Orders Return of Second Illegal Immigrant Deported to El Salvador
Apr 25, 2025
2 min
Judge Blocks Trump’s Voter Citizenship Requirements
Apr 25, 2025
2 min
Judge Blocks Trump’s Effort to Remove DEI in K-12 Public Schools
Apr 25, 2025
2 min
Trump Says Trade Talks with China Are Ongoing. China Denies.
Apr 25, 2025
1 min
Trump to Target ActBlue Over Alleged Illegal Dem Donations
Apr 25, 2025
2 min
Pentagon Forced to Resume Medical Policy for Trans Soldiers
Apr 25, 2025
2 min
Trump Slams Zelensky for Rejecting Crimea Proposal for Peace
Apr 25, 2025
4 min
WATCH: Ben Shapiro Interviews Zelensky
Apr 25, 2025
1 min
Trump Ends DEI in Colleges
Apr 25, 2025
2 min
Musk and Bessent Had Heated Argument in WH
Apr 24, 2025
2 min
Trump: New Reciprocal Tariffs Coming in 2–3 Weeks
Apr 24, 2025
1 min