Hong Kong-based CK Hutchison Holdings has agreed to sell its subsidiaries to the American Blackrock consortium. The deal gives the American company control over two major ports in the Panama Canal.
In a statement, CK Hutchison Holdings said it would sell all of its shares in Hutchison Port Holdings and Hutchison Port Group Holdings to the consortium in a deal worth about $23 billion, including $5 billion in debt.
The deal would give BlackRock control of 43 ports in 23 countries, including Balboa and Cristobal, which are located at both ends of the Panama Canal. The other ports are Mexico, the Netherlands, Egypt, Australia, Pakistan, and other countries.
The deal is subject to approval by the Panamanian government.
This information is noteworthy in light of Donald Trump’s announcements to return the Panama Canal to the Americans.
