A BlackRock Inc.-led consortium has reached an agreement to acquire control of key ports near the Panama Canal from Hong Kong-based CK Hutchison Holdings, following pressure from President Donald Trump to reduce Chinese influence in the region.
The deal marks a significant win for Trump, who has criticized China’s control over the strategic waterway and pushed Panama to reduce transit fees for U.S. vessels. The agreement gives BlackRock, Global Infrastructure Partners, and Mediterranean Shipping Co.’s ports division an 80% stake in Hutchison Ports Group, operating 43 ports worldwide. They will also take control of Panama Ports Co., managing critical points at Balboa and Cristobal. The deal, valued at $19 billion, addresses growing scrutiny on Hutchison and supports Panama President Mulino’s efforts to limit U.S. influence.
