Wall Street giant BlackRock has agreed to buy two ports in Panama owned by Hong Kong company CK Hutchison, a deal that greatly relieves pressure on Panama amid tensions between the country and US President Donald Trump.
The investment group, led by BlackRock, will acquire the ports at either end of the Panama Canal for about $19 billion. The deal is BlackRock’s largest infrastructure project to date and marks its desire to expand beyond traditional asset management into international investments.
President Trump had been pressing Panama to address his concerns over the Panama Canal, including allegations that China operates the waterway. However, the acquisition has largely alleviated these tensions.
The deal was facilitated by discussions between BlackRock and CK Hutchison executives, with the US administration providing support for the transaction. The Li family, who own CK Hutchison, had been under pressure to exit the ports business due to political concerns.
The Panama Canal is a critical waterway connecting the Pacific and Atlantic Oceans, with vessels not needing to stop at Panama’s ports to use the canal. The deal will see BlackRock partner with Terminal Investment Limited to operate the ports, adding to its portfolio of global infrastructure assets.
BlackRock’s acquisition marks a significant shift for the firm, which has been expanding its presence in international markets and diversifying its investments beyond traditional asset management.
Source: https://www.nytimes.com/2025/03/04/business/blackrock-panama-canal-ports-hutchison.html