by Tom Ozimek at The Epoch Times
A BlackRock-led consortium has reached an agreement to acquire two critical port operations in the Panama Canal from Hong Kong-based CK Hutchison Holdings Ltd.
The deal, announced on March 4, comes as President Donald Trump has openly expressed his concerns over Chinese influence in the region and his desire for the United States to regain control of the Panama Canal.
BlackRock, along with Global Infrastructure Partners (GIP) and Terminal Investment Ltd., have reached an agreement with CK Hutchison to purchase 90 percent of Panama Ports Company, which owns and operates the Balboa and Cristobal ports—the two main maritime gateways at the Panama Canal’s Pacific and Atlantic entrances.
In addition to the Panama port assets, the deal also includes an 80 percent controlling interest in CK Hutchison’s global ports network, spanning 43 ports in 23 countries.
“This agreement is a powerful illustration of BlackRock and GIP’s combined platform and our ability to deliver differentiated investments for clients,“ BlackRock CEO Larry Fink said in a statement. ”These world-class ports facilitate global growth.”
The deal does not include Hutchison Port Holdings Trust,…