BlackRock-Backed Consortium Moves to Seal CK Hutchison Ports Deal Minus Panama Terminals

A consortium backed by BlackRock is seeking to finalize its acquisition of CK Hutchison Holdings’s global ports business, excluding two key terminals in Panama that were recently seized by authorities, according to a Financial Times report. The group, which includes Swiss-Italian shipping giant Mediterranean Shipping Company (MSC), is reportedly in discussions to acquire around 41 ports across Europe, Southeast Asia, and the Middle East. Reuters could not independently verify the report, and the companies involved have not responded to requests for comment.

The development follows a January ruling by Panama’s top court declaring the concession for Hutchison’s Panama Canal terminals unconstitutional. Authorities subsequently took control of the assets, prompting Hutchison’s Panama Ports Company unit to initiate international arbitration proceedings against the Central American nation. The legal dispute has cast uncertainty over the future of the two strategically significant ports.

CK Hutchison has been pursuing the sale of its non-Chinese ports portfolio, which spans 43 terminals in 23 countries. The previously announced $23 billion deal would have seen BlackRock assume control of the Panama assets, while MSC acquired the majority of the remaining global portfolio. With the Panama terminals now excluded, negotiations appear to be shifting focus toward completing the broader transaction without the disputed assets.

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