A Hong Kong-based conglomerate has agreed to sell its stakes in Panama’s key ports to a consortium led by BlackRock Inc., following US concerns over Chinese influence in the critical shipping route.CK Hutchison Holdings announced on Tuesday that it would divest all shares in Hutchison Port Holdings and Hutchison Port Group Holdings.
In a US$23 billion deal, the Hong Kong conglomerate CK Hutchison Holdings will sell all shares in Panama Canal ports to a U.S. consortium including BlackRock.