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From the Washington Examiner: A Hong Kong-based conglomerate agreed to sell its stake in a subsidiary that operates ports along the Panama Canal to a United States-based firm as the Trump administration ramps up pressure to rid the canal of Chinese influence.
CK Hutchison Holdings, which holds 90% control of the Panama Ports Company, said in a filing that it would sell its shares in two ports, Balboa and Cristobal, to a consortium led by BlackRock, the world’s largest asset management company.
Hutchison Port Holdings and Hutchison Port Group Holdings, under the control of CK Hutchison Holdings, hold 80% of the Hutchison Ports group that operates 43 ports in 23 countries.
The consortium consists of BlackRock, Global Infrastructure Partners, and Terminal Investment Limited.
This $23 billion deal came after Secretary of State Marco Rubio’s February visit to Panama, during which he told Panamanian President Jose Raul Mulino that the Panama Canal must be rid of Chinese influence or Panama could face retaliation from the Trump administration.
In a separate report, the Wall Street Journal shared the following information:
The U.S. built the Panama Canal, which opened in 1914, and relinquished it to Panama in late 1999 under a treaty negotiated more than 20 years earlier with then-President Jimmy Carter. Trump has long said the deal was bad for the U.S. and has complained about the fees Panama charges and Chinese infrastructure built up along the waterway.
The deal appears to mark a retreat from international port operations by Hutchison, controlled by one of Asia’s richest people, 96-year-old Li Ka-shing. The group, which faced pressure from officials in the U.S. and Panama to divest itself of the Panama ports, will retain its ports in Hong Kong and in mainland China while selling control of 43 ports comprising 199 berths in 23 countries.
NEW: BlackRock to take over key Panama Canal ports from a Hong Kong-based firm following President Trump’s criticisms of China’s influence on the canal.
U.S. firms led by BlackRock are taking over two important ports for nearly $23 billion.
“China is operating the Panama Canal.… pic.twitter.com/pRtEblCjIp
— Collin Rugg (@CollinRugg) March 4, 2025
BREAKING: BlackRock is taking control of two key Panama Canal ports from a Hong Kong company for $23B—just weeks after Trump called out China’s grip on the canal – NYP pic.twitter.com/RZ3SbCOuww
— Libs of TikTok (@libsoftiktok) March 4, 2025
Breaking news: BlackRock has agreed to buy two major ports at the Panama Canal from their Hong Kong-based owner. https://t.co/AABRbnPYqz pic.twitter.com/M7zhsQZzda
— Financial Times (@FT) March 4, 2025
Breaking: A group led by BlackRock struck a $23 billion deal that would bring key ports around the Panama Canal under American corporate ownership https://t.co/P0B8tywx9G
— The Wall Street Journal (@WSJ) March 4, 2025
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