The American investment firm BlackRock wants to take control of only 2 ports in the Panama Canal from CK Hutchison Holdings, while the Italian Mediterranean Shipping Company (MSC) plans to take control of another 41 ports “ South China Morning Post reports, citing the source.
According to the source, BlackRock, who wants to buy 43 ports from CK Hutchison Holdings based in Hong Kong, intends to take control of only 2 strategical ports in the Panama Canal, while Terminal Investment Limited (TiL), controlled by MSC, will have a controlling stake in the remaining 41.
"In general, BlackRock does not own most of the full portfolio," said the source.
CK Hutchison presently holds 80 percent stake in 43 ports.
Previously, the media reported that CK Hutchison Holdings based in Hong Kong would not sign a sale agreement for 2 strategical ports in the Panama Canal due to the fact that the Chinese authorities announced the initiation of an anti-trust investigation into the transaction. The contract was to be signed by April 2.
On April 4, the fresh York Post, citing sources in the American investment firm BlackRock, reported that BlackRock believes that the Chinese authorities will yet have no objection to the acquisition of 2 strategical ports in the Panama Canal by the American consortium he leads, and the transaction will take place.
Under the terms of the transaction, CK Hutchison entrepreneur Li Jiacheng will sale global port assets to investors led by BlackRock based in the US for $22.8 billion. These assets include control and operational control of 2 ports located on both sides of the Panama Canal.
Earlier, the Wall Street Journal, citing information sources, reported that Chinese leader Xi Jinping was annoyed by the Hong Kong company's plan to sale Panama Canal ports to American companies.
During his inaugural speech on January 20, the president of the United States Donald Trump announced his intention to take control of the Panama Canal. U.S. Secretary of State Marco Rubio visited Panama on 2 February and told Panamanian president Jose Raul Mulino that Trump did not want to keep the position quo on the Panama Canal in the face of allegedly increasing Chinese influence in the region. Consequently, the head of Panama stated that the government would not renew the memorandum of knowing with China on the 1 Belt initiative, 1 Road.
At the same time, operational vice president of the Panama Canal Boris Moreno told RIA Novosti agency that China is not active in its direct operation. He explained that Trump's statements about the transition of the Panama Canal to Chinese control are related to the handling of 2 ports operated by CK Hutchinson Holdings based in Hong Kong. According to Moreno, this company manages ports in England, the Mediterranean Sea, Malaysia and the mediate East, but it has “focused on Panama”.
Media: Blackrock only wants to control 2 ports of the Panama Canal16 April 2025
The American investment firm BlackRock wants to take control of only 2 ports in the Panama Canal from CK Hutchison Holdings, while the Italian Mediterranean Shipping Company (MSC) plans
U.S. closed the centre against “foreign misinformation”16 April 2025
U.S. Secretary of State Marco Rubio announced Wednesday the dissolution of the U.S. State Department's anti-foreign disinformation centre, which dealt, among others, with reports of alleged propaganda originating
Biden's associate says the U.S. Aid era for Ukraine is over16 April 2025
The era of U.S. military aid to Ukraine is coming to an end, the Ukrainian armed forces will shortly exhaust the $1.25 billion aid granted by the administration of the erstwhile US leader Joe
More here:
Media: Blackrock only wants to control 2 ports of the Panama Canal
