CK Hutchison’s plans to sell its two port operations near the Panama Canal to a BlackRock-led group have been put on hold, sources close to the matter said, amid growing pressure from Chinese authorities.
Beijing’s market regulator announced it would conduct an antitrust review of the proposed sale, citing concerns for fair competition and public interests. The decision comes as China has increasingly scrutinized major business deals involving American buyers, particularly those linked to tycoon Li Ka-shing.
The planned deal was valued at over $22 billion and covered 43 ports in 23 countries. CK Hutchison had agreed to sell most of its global port business, including assets near the Panama Canal, to the consortium led by BlackRock. However, definitive documentation for the sale was expected to be signed by April 2.
A spokesperson for CK Hutchison declined to comment on the matter, citing “obvious reasons” for not signing the deal. The development does not necessarily mean the sale has been called off, and negotiations are still ongoing.
Critics in China have long argued that Li’s conglomerate has ties too close to US interests, leading Beijing to re-examine major business deals involving American buyers. This latest move adds fuel to concerns about national security and strategic interests being compromised by foreign investment in key sectors like ports and logistics.
CK Hutchison operates two of the five ports adjacent to the Panama Canal, managing around 3% of global sea-borne trade. The company’s decision may have significant implications for China’s economic and diplomatic efforts to exert influence over strategic waterways.
Source: https://www.cnbc.com/2025/03/29/ck-hutchison-wont-sign-deal-to-sell-panama-ports-to-blackrock-led-group.html