American Military News by Silla Brush and Matthew Bristow - Bloomberg News 3/5/2025
BlackRock Inc. led one of the biggest acquisitions of the year in a deal that marked both the firm’s expanded reach in infrastructure and a win for U.S. President Donald Trump, who had raised concerns over control of key ports near the Panama Canal.
The world’s biggest asset manager led a consortium that will buy a controlling stake in Panama ports that had become a political lightning rod and a larger unit that has operations across 23 countries. CK Hutchison, the conglomerate founded by Hong Kong billionaire Li Ka-shing, said it would receive cash proceeds of more than $19 billion from the sale.
CK Hutchinson shares jumped as much as 25% in Hong Kong on Wednesday, the most in 27 years.
The deal is a major victory for Trump, who had argued that China had taken over the critical waterway, without providing evidence, and that the U.S. was paying too much for the passage of ships. He previously demanded the fees charged on U.S. naval and merchant ships be lowered, or else Panama should return the canal to the U.S.
The agreement was reached alongside a deal in principle for BlackRock and its Global Infrastructure Partners unit, along with Mediterranean Shipping Co.’s ports division, to acquire units that hold 80% of the Hutchison Ports group, which operates 43 ports in 23 countries, the company said Tuesday in a statement. The consortium will also acquire 90% of Panama Ports Co., which operates the two entryways in Balboa and Cristobal.
The deal also removes a headache for billionaire Li. As recently as January, his company said it was committed to continue operating in the country, but has faced increased scrutiny amid Trump’s threats. Panama’s government had been weighing whether to cancel the company’s contract, Bloomberg reported last month, and had also initiated an audit.
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https://americanmilitarynews.com/2025/03/blackrocks-ports-deal-in-panama-marks-new-reach-hands-win-to-trump/
