WarMonitor on Nostr: Following significant pressure by U.S. President Donald J. Trump’s Administration, ...

Following significant pressure by U.S. President Donald J. Trump’s Administration, for Panama to end any further cooperation with the People's Republic of China, due to what it saw as growing Chinese influence over the Panama Canal and nearby ports; the Hong Kong-based infrastructure corporation, CK Hutchison Holdings, announced today that it had reached a deal with a BlackRock-backed consortium, on a $22.1 billion sale of its interests in a key Panama Canal port operator. The sale will give BlackRock’s “Global Infrastructure Partners” and other U.S-based companies a 90% stake in the Panama Ports Company, which operates the key ports of Balboa and Cristobal on both the Atlantic and Pacific sides of the Panama Canal. Additionally, BlackRock will gain control over 80% of CK Hutchison’s other interests across the world, consisting of 43 ports comprising 199 berths in 23 countries, while Hutchison will maintain control over its Hong Kong and Chinese interests.