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05-03-2025, 10:33 PM
In a press release, CK Hutchison Holding said Tuesday that it would sell all shares in Hutchison Port Holdings and all shares in Hutchison Port Group Holdings, in a deal valued at $22.8 billion. The two units hold 80% of the Hutchison Ports group that operates 43 ports in 23 countries, including two of the four major ports that exist along the Panama Canal. The deal will give the BlackRock consortium control over 43 ports in 23 countries, including Mexico, the Netherlands, Egypt, Australia, Pakistan and elsewhere.
The consortium, comprised of BlackRock, Global Infrastructure Partners and Terminal Investment Limited will acquire 90% interests in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal in Panama, according to the filing.
Observers believed the audit was a preliminary step toward eventually rebidding the contract, but rumors had swirled in recent weeks that a U.S. firm close to the White House was being lined up to take over.
Mr. Trump touted the move in his address to a joint session of Congress Tuesday night, saying that "to further enhance our national security, our administration will be reclaiming the Panama Canal, and we've already started doing it."
"Just today, a large American company announced they are buying both ports around the Panama Canal, and lots of other things having to do with the Panama Canal, and a couple of other canals," the president said.
https://www.cbsnews.com/news/blackrock-p...son-trump/
The consortium, comprised of BlackRock, Global Infrastructure Partners and Terminal Investment Limited will acquire 90% interests in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal in Panama, according to the filing.
Observers believed the audit was a preliminary step toward eventually rebidding the contract, but rumors had swirled in recent weeks that a U.S. firm close to the White House was being lined up to take over.
Mr. Trump touted the move in his address to a joint session of Congress Tuesday night, saying that "to further enhance our national security, our administration will be reclaiming the Panama Canal, and we've already started doing it."
"Just today, a large American company announced they are buying both ports around the Panama Canal, and lots of other things having to do with the Panama Canal, and a couple of other canals," the president said.
https://www.cbsnews.com/news/blackrock-p...son-trump/
