BlackRock Leads Bold Acquisition of Panama Canal Ports in High-Stakes Deal

The U.S.-led consortium led by BlackRock acquires the majority of CK Hutchison's $22.8 billion ports business in a strategic move to control key Panama Canal assets. President Trump heralds this as reclaiming U.S. interests, but tensions with Panama rise as President Mulino refutes the claims, maintaining Panama's sovereignty over the canal.

The United States has taken a significant step towards controlling key assets along the Panama Canal, with a deal led by BlackRock to purchase most of CK Hutchison's $22.8 billion ports business. The acquisition gives the U.S. consortium control over strategic ports, heightening geopolitical tensions.

While President Donald Trump emphasized the deal as part of his administration's efforts to reclaim the Panama Canal, Panama's President Jose Raul Mulino firmly denied any changes in the canal's sovereignty. He reiterated that the canal remains under Panamanian control, countering Trump's assertions.

The deal involves the acquisition of a 90% stake in the Panama Ports Company, responsible for pivotal ports at the canal's ends. Despite political undertones, CK Hutchison's Frank Sixt stated that the transaction is purely commercial. The substantial purchase price has significantly boosted CK Hutchison's stock, while experts view the sale as a strategic shift for the Chinese conglomerate.

(With inputs from agencies.)