CK Hutchison to sell stake in Panama ports to BlackRock group amid Trump pressure

Hong Kong's CK Hutchison Holdings said on Tuesday a consortium including BlackRock Inc would buy an 80% stake in a unit that controls ports in Panama for an equity value of $14.21 billion.

The sale of 90% interest in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal, comes as U.S. President Donald Trump piles on pressure to end what he sees as China's influence and control over the Panama Canal.

CK Hutchison has been operating the ports of Balboa and Cristobal at the canal's Pacific and Atlantic entrances for more than two decades.


Other ports in the canal are operated by firms from the U.S., Taiwan and Singapore.

The sale does not involve any interest in Hutchison Port Holdings Trust, which operates ports in Hong Kong and Shenzhen, as well as South China, or any other ports in Mainland China, the company said.

The consortium, which includes BlackRock Inc, Global Infrastructure Partners, and Terminal Investment and CK Hutchison has agreed for negotiations will be on an exclusive basis for a period of 145 days, the company said.