Tue, 04 Mar 2025

Tue, 04 Mar 2025 Hong Kong billionaire to sell Panama Canal ports to US firm

BlackRock will buy two ports after Trump's interest in taking back control of the key shipping route.

* Hong Kong-based company CK Hutchison Holdings has agreed to sell its majority stake in two key ports on the Panama Canal to a group led by US investment firm BlackRock for $22.8bn.
* The sale comes after President Donald Trump claimed that the canal is under Chinese control and suggested that the US should take control of it.
* CK Hutchison operates the ports through a subsidiary, but is not owned by the Chinese government.
* The deal includes 43 ports in 23 countries worldwide, including the two canal terminals, and will require approval from the Panamanian government.
* The Panama Canal is a critical shipping route that connects the Atlantic and Pacific oceans and is used by up to 14,000 ships each year.
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