In the Sale of Panama Ports – CK Hutchison Raises Possible Inclusion of Chinese Investor
The news comes as the deadline for the Chinese company to sell its port operations and concessions valued at more than $23 billion expired Sunday.
Hong Kong conglomerate CK Hutchison has raised the possibility of a “major strategic investor” in China joining the consortium led by U.S. based BlackRock, which wants to acquire its port operations outside China, including its operations in the Panama Canal with the ports of Cristobal and Balboa. CK Hutchison “continues to hold discussions with consortium members with a view to inviting a major strategic investor from (China) to join as a relevant member of the consortium,” the group said in a document filed with the Hong Kong Stock Exchange. He also noted that changes will be necessary in the consortium’s membership and the structure of the agreement so that the transaction can be “approved by all relevant authorities.”
This Sunday was the deadline for the Chinese company CK Hutchison to sell its port operations and concessions, valued at more than $23 billion. Reuters consulted with three sources close to the conglomerate, who indicated that the deadline for continuing exclusive negotiations may be extended. The Hong Kong-based Chinese company’s plan was to sell the port concession, which includes the ports of Balboa and Cristóbal, at both ends of the Panama Canal. BlackRock has the endorsement of President Donald Trump, who criticized the growing Chinese influence in Panama and the region.
