Blackrock acquires Panama Canal ports operated by CK Hutchison for $22.8 billion The BlackRock-TiL Consortium and CK Hutchison have reached an agreement in principle on Tuesday by which the BlackRock-TiL Consortium will acquire HPH’s 90% stake in Panama Ports Company, a subsidiary of a Hong Kong-based multinational, which operates two ports adjacent to the Panama Canal, for $22.8 billion. The consortium will also acquire CK Hutchison's effective and controlling 80% interest in subsidiaries and associate companies that own, operate and develop a total of 43 ports comprising 199 berths in 23 countries, together with all of HPH's management resources, operations, terminal operating systems, IT and other systems, and other assets related to the control and operations of those ports. However, this latest transaction does not include any interest in the HPH Trust, which operates ports in Hong Kong, Shenzhen and South China, or any other ports in China. The definitive transact...
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