Billionaire agrees to $22bn Panama Canal deal after Donald Trump China outrage
BlackRock buying two Panama Canal ports amid Trump's China threats
BlackRock's $23 Billion Panama Canal Deal: What We Know So Far
The $23 billion deal, announced by Hong Kong-based CK Hutchison Holdings, transfers control of the Balboa and Cristobal ports to a consortium led by BlackRock, Global Infrastructure Partners, and Terminal Investment Limited.
Hong Kong-based conglomerate has agreed to sell shares of its units that operate two key ports in Panama to BlackRock consortium.
BlackRock, the world’s largest asset manager with a portfolio of investments valued at $11.5 trillion, has agreed to purchase majority stakes in ports on both sides of the Panama Canal from Hong Kong-based CK Hutchison in a multipart transaction worth $22.8 billion, the companies announced on Tuesday.
A consortium led by BlackRock has bought two ports on either side of the Panama Canal just a few weeks after President Trump threatened to use force to restore U.S. control over the energy chokepoint.
U.S. asset manager BlackRock (BLK) has taken majority stakes in the ports on either side of the Panama Canal in a deal worth $22.8 billion.
The deal puts U.S. firms in control of two ports that President Trump raised as a security concern because of their connection to China.
After significant pressure was exerted by President Donald Trump, Chinese company CK Hutchison has agreed to sell its two ports on the Panama Canal to U.S. investment company BlackRock.
Buy-side giant aims to combine public- and private-market investment, technology, and data solutions on one platform.
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback