Hong Kong-based CK Hutchison Holdings has agreed to sell its stake in key Panama Canal ports to a U.S.-led consortium backed by BlackRock.
The decision follows intense pressure from former U.S. President Donald Trump, who raised concerns over Chinese influence in the region. The deal, valued at nearly $23 billion, will transfer control of the Balboa and Cristobal ports to American corporate ownership. This move is seen as a strategic win for the U.S. in limiting China's presence in critical global trade infrastructure.
The sale also highlights growing geopolitical tensions between the U.S. and China over influence in Latin America.
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BlackRock to take over Hong Kong-owned ports in Panama Canal in $23 billion deal
A Hong Kong-based conglomerate agreed to sell its stake in a subsidiary that operates ports along the Panama Canal to a United States-based firm as the Trump administration ramps up
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