A consortium of investors led by the controversial firm BlackRock has reportedly agreed to buy a majority stake in the Panama Canal for $23 billion.
“The deal would bring the key ports under American corporate ownership, from Hong Kong-based CK Hutchison … BlackRock has briefed the Trump administration and Congress on the deal,” the Wall Street Journal reported Tuesday, citing a person familiar with the matter. “If completed, the BlackRock deal could go a long way toward easing concerns about China’s influence over the canal.”
The move comes after President Donald Trump alleged Chinese interference with the operations of the critical shipping lane.
“China is operating the Panama Canal, and we didn’t give it to China,” Trump said on Inauguration Day.
In a filing, CK Hutchison Holding said it would sell all shares in Hutchison Port Holdings and all shares in Hutchison Port Group Holdings. The two units hold 80% in the Hutchison Ports group that operates 43 ports in 23 countries. […]
— Read More: headlineusa.com
