Deal worth $22.8bn involves sale of bulk of those owned by Hong Kong-based conglomerate CK Hutchison
80% of the parent company that manages 43 terminals in 23 countries and 90% of the subsidiary operating on the sides of the Central American canal were acquired for approximately 22.8 billion dollars
BlackRock has agreed to buy two major ports on the Panama Canal from their Hong Kong-based owner as part of a $22.8bn deal, influence at the vital waterway. after A few weeks tensions between the USA and Panama over the nationality of the entities managing the maritime traffic of the Canal, as the main container terminals present on both sides of the infrastructure, in the ports of Balboa and Cristobal, changed hands.
A joint note
In fact, with a joint note, the Hong Kong group CK Hutchison as seller and a buyer consortium made up of BlackRock Inc., Global Infrastructure Partners and Terminal Investment Limited (these two emanations of the MSC group), announced a purchase and sale operation which will concern 90% of the capital held by Hph in Panama Ports Company (which manages the two aforementioned Central American terminals) and 80% of CK Hutchison
Owns 43 terminals in 23 countries
Which owns, manages and develops 43 terminals comprising 199 docks in 23 countries.It also runs ports in south-east Asia, the Middle East, Mexico and Excluded from the operation is Trust Hph, which manages terminals in Hong Kong, Shenzhen and southern China, and any other port in China.
The Panamanian transaction
The Panamanian transaction will be subject to confirmation by the Government of Panama of the proposed terms of the purchase and sale, expected no later than April 2, 2025. The aggregate enterprise value for 100% of Hutchison Port Holding’s port sales footprint, including the Panama ports, has been agreed to be US$22.8 billion.
Our Partners
TiL President and MSC Group President Diego Aponte said: “Our relationship with Hutchison Ports has a long history and is one of mutual respect and friendship. Additionally, we are very pleased to partner with BlackRock and Global Infrastructure Partners, with whom we share a long-standing and formidable relationship.
Speaking on behalf of CK Hutchison, co-CEO Mr. Frank Sixt commented: “I would like to emphasize that the transaction is purely commercial in nature and entirely unrelated to recent political reports on Panama’s ports.”
Trump’s threats
It is noteworthy that Trump said several times during the lead-up to his inauguration “China is operating the Panama Canal. And we didn’t give it to China. We gave it to Panama, and we’re taking it back,” said Trump during his inaugural address. At a January press conference ahead of his inauguration, Trump would not rule out using either military force or economic coercion to take control of the canal once again.
Acquisition of Preqin,
On the other hand BlackRock Inc. (NYSE:BLK) today announced the successful completion of its acquisition of Preqin, a premier independent provider of private markets data. with alternative assets projected to reach $30 trillion by the end of the decade, according to Preqin data.it owns the second-largest stake in some of the nation’s largest and most successful companies, including Walmart, Apple, Amazon, Microsoft and Google owner Alphabet.
About : BlackRock
BlackRock is one of the world’s largest asset managers, with an enormous pool of $11.6 trillion in assets. For context, that sum is equal to about 40% of the United States’ gross domestic product, the broadest measure of a nation’s economic activity. Unlike some conglomerates, its doesn’t completely control a large number of high-profile companies.But among its holdings,
