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2025-03-05 Caribbean-Latin America

CK Hutchison Sells Panama Ports to BlackRock Amid Trump Pressure

Smell the fail
[Bloomberg] CK Hutchison Holdings Ltd., the Hong Kong-based conglomerate, agreed to sell control of a unit that operates ports near the Panama Canal after pressure from US President Donald Trump to limit Chinese interests in the region.

A consortium including BlackRock Inc., Global Infrastructure Partners, and Terminal Investment Ltd. reached a deal in principle to acquire units that hold 80% of the Hutchison Ports group, which operates 43 ports in 23 countries. The consortium will also acquire 90% of Panama Ports Co., which operates the two ports in Balboa and Cristobal. The transactions will deliver cash proceeds of $19 billion to CK Hutchison, the company said Tuesday in a statement.

Trump has said he wants the US to regain control of the Panama Canal, which was handed over to the local government in 1999, arguing without evidence that China has taken over the waterway. Panama’s government had been weighing whether to cancel its contract with CK Hutchison to operate the ports, Bloomberg reported last month.

Hutchison has run the ports in Panama’s Balboa and Cristobal under a concession that was first signed in 1997 and, in 2021, extended until 2047.

Posted by NoMoreBS 2025-03-05 00:00|| || Front Page|| [11138 views ] Top
File under: Commies

#1 What could possibly go wrong.

“Our review has shown that, as a direct result of decisions made by MSCI, these Americans are now unwittingly funding PRC companies that develop and build weapons for the People’s Liberation Army (PLA)—the PRC’s military—and advance the CCP’s stated mission of technological supremacy,” wrote the Select Committee’s Chairman, Republican Rep. Mike Gallagher of Wisconsin, and its ranking member, Rep. Raja Krishnamoorthi, a Democrat from Illinois. The committee sent an identical letter to BlackRock.

By sending massive amounts of American money to companies linked to the Chinese military and human right abuses, the letter said, BlackRock and MSCI are “exacerbating an already significant national security threat and undermining American values.”

Posted by Woodrow 2025-03-05 06:13|| 2025-03-05 06:13|| Front Page Top

#2 hanghai, January 15, 2024 – BlackRock today announced the appointments of Hua Fan as Head of China, and Jim Zhang as General Manager of BlackRock CCB Wealth Management Limited (“BlackRock CCB Wealth”), subject to regulatory approval.
BlackRock’s business in China has made great strides – from launching a fund management business and a wealth management joint venture, developing various investment capabilities across equities, fixed income and multi-asset strategies, to building a robust local team and growing leaders from within our business.

Posted by Muggsy Peacock6312 2025-03-05 06:21|| 2025-03-05 06:21|| Front Page Top

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