Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
CIA spokesperson says law enforcement responded to a security incident outside CIA headquarters.
Brigadier General Saree: Operation achieved its targeted successfully, forcing millions of Zionists to flee to shelters, and halted air traffic at the airport.
YAF spokesperson: We've executed a military operation targeting Ben Gurion Airport in occupied Yafa with ballistic hypersonic missile.
IOF warning forces residents to evacuate and head South in preparation for expansion of aggression.
IOF issues large-scale evacuation orders for residents of 14 areas in northern Gaza.
Israeli media say that for second time in span of hours, a ballistic missile is launched from Yemen toward "Israel".
Israeli media say large explosion heard in central "Israel".
Israeli media: Missile launch from Yemen takes place at end of Yahya Saree's announcement.
Israeli media: Sirens blare in occupied Al-Quds.
Saree: Escalation of aggression on Gaza and the massacres committed necessitate urgent action by the [Arab-Islamic] nation to fulfill its moral and religious duty.

BlackRock to buy Panama Canal ports : FT

  • By Al Mayadeen English
  • Source: Financial Times
  • 5 Mar 2025 01:13
  • 2 Shares
3 Min Read

Trump has regularly claimed that China runs the canal and earlier this year threatened to demand Washington gain control over the waterway.

Listen
  • x
  • BlackRock to buy Panama Canal ports : FT
    Cargo containers sit stacked as cranes load and unload containers from cargo ships at the Cristobal port, operated by the Panama Ports Company in Colon, Panama, on February 4, 2025. (AP)

BlackRock has agreed to acquire two key Panama Canal ports from their Hong Kong-based owner in a $22.8 billion transaction, following pressure from Donald Trump over alleged Chinese control of the crucial canal. 

A corporate statement released Tuesday revealed that the ports' Hong Kong-based owner, CK Hutchison, will sell the business to a consortium that includes BlackRock, Global Infrastructure Partners, and Terminal Investment Limited.

The consortium would purchase a 90% interest in the corporation that owns and runs Panama's two ports. 

Trump has regularly claimed that China runs the canal and earlier this year threatened to demand Washington gain control over the waterway.

The transaction also includes an 80% share in CK Hutchison's ports companies, which operate 43 ports across 23 countries, including the UK and Germany. It also operates ports in Southeast Asia, the Middle East, Mexico, and Australia.

The remaining 20% interest is held by PSA, a port operator controlled by Temasek, Singapore's government wealth fund. CK Hutchison said it expects to collect more than $19 billion from the transaction, which includes the redemption of some shareholder debts. CK Hutchison's market capitalization is HK$148 billion ($19 billion).

Related News

US terminates 44 overseas food programs over 'policy shift'

China slams US regulations on Huawei AI Chips, warns of legal action

Trump's election victory in November and his calls for the US to restore control of the canal pushed CK Hutchison to contemplate the sale, resulting in a brief and intensive phase of talks for the ports, according to sources with knowledge of the discussions. 

One source detailed how Trump's win and discussion about annexing Canada, Greenland, and Panama pressured Panamanians. 

The source added that CK Hutchison "realised that it was a political headache and they wanted to do something".

 To handle the possible political backlash, BlackRock CEO Larry Fink briefed top members of the Trump administration, including the president, to win their support for the buyout, familiar sources said. 

One source detailed how the consortium would not have submitted its proposal if they felt the US government would not have approved.

CK Hutchison is owned by Hong Kong's richest man, Li Ka-shing, and his family. Its portfolio includes ports, retail, telecoms, and other infrastructure. Port activities accounted for approximately 9% of CK Hutchison's total revenue of HK$461.6 billion in 2023.

Hong Kong-based Hutchison Ports, one of the world's largest container terminal operators, has been operating ports on both sides of the canal since 1997 under concessions from the Panama government.

These facilities have often sparked political commentary from American politicians who have claimed that CK Hutchison's role means China effectively controls the canal.

  • United States
  • US President Donald Trump
  • Panama
  • BlackRock
  • Panama canal
  • China
  • Donald Trump

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025

Coverage

All
War on Gaza

Read Next

All
Telegram jumps to $540mn profit despite founder facing legal peril: FT
Technology

Telegram jumps to $540mn profit despite founder facing legal peril: FT

Ireland's Simon Harris speaks with the media as he arrives for a meeting of EU foreign ministers at the European Council building in Brussels, Monday, Jan. 27, 2025. (AP)
Politics

Ireland’s deputy premier accuses Israeli government of genocidal acts

Israeli occupation forces near military vehicles at the Gaza border (AP)
Palestine

WSJ: War fatigue grows in 'Israel' 19 months into war on Gaza

The facade of Trump Tower is shown in New York, Friday, March 22, 2024 (AP/Ted Shaffrey)
MENA

Trump Tower in Damascus: Inside Syria’s bold proposal

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS