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Back-handed blessing? HK firm sells port facilities at Panama Canal to BlackRock. (news link.)
Deal involves BlackRock/BLK (Larry Fink; NYC), BLK subsidiary GIP (Global Infrastructure Partners; NYC-based private-equity) that it bought just last year and GIP portfolio company TIL (Terminal Invest Ltd; Switzerland-based). So, it looks like Larry Fink's deal all the way. It seems that BLK and GIP are handling the financing aspects and Swiss TIL may be the Panama Canal port operator.
An unusual deal for BlackRock. May be Blackstone/BX (Schwarzman) passed it up or had his hands full.
Anyway, HK CK Hutchison that loved its Panama Canal port operations just in January 2025 was glad to cash out of this sudden hot potato at $22.8 billion. How things changed in 6-8 weeks.
The $22+B is for the 45 ports in 25 countries. Panama ports happen to be part of the portfolio BLK affiliates bought. A deal like this takes months to agree on, including on the ground extensive due diligence. I think it is a great deal for CK Hutchinson.
More likely Larry Fink is having a sense of mortality. My guess is BX passed up the deal or it was never brought to it. They tend to do go after more high margin projects than BLK does.
Anyhow, Because Beijing is an oppressive scum regime, it seemed like a weak spot, a potential threat. No offense to CK Hutchinson. They are HK-based, but Beijing has been clamping down on rights and freedoms for years. Kinda like the Orange P.O.S. is doing to this country right now.
Good question....I think they'd certainly have veto power. But the outfit running the facilities at either end of the waterway is private, not a gummint agency.
no one seems to be pointing to the simplest reason for a coerced sale of foreign assets to american billionaires. was fink forced to do this? is mnuchin being forced to bid for tiktok? cronyism first, any benefit to america in general are coincidental.
my guess is that fink is not going to offer american crewed, american flagged, or american owned ships free passage. cmon trump, lets mandate free passage to american departed to help our exports in a tariff war.
Comments
An unusual deal for BlackRock. May be Blackstone/BX (Schwarzman) passed it up or had his hands full.
Anyway, HK CK Hutchison that loved its Panama Canal port operations just in January 2025 was glad to cash out of this sudden hot potato at $22.8 billion. How things changed in 6-8 weeks.
Open Links
https://finance.yahoo.com/news/blackrock-buys-hutchison-panama-ports-161538706.html
https://apnews.com/article/hong-kong-panama-canal-beijing-hutchison-blackrock-rubio-d02a8439cc63d9e740e5154d4e0c56f6
Subscription Link https://www.barrons.com/articles/blackrock-panama-canal-ports-trump-5fbfdc5f
More likely Larry Fink is having a sense of mortality. My guess is BX passed up the deal or it was never brought to it. They tend to do go after more high margin projects than BLK does.
no one seems to be pointing to the simplest reason for a coerced sale of foreign assets to american billionaires.
was fink forced to do this? is mnuchin being forced to bid for tiktok?
cronyism first, any benefit to america in general are coincidental.
my guess is that fink is not going to offer american crewed, american flagged, or american owned ships free passage.
cmon trump, lets mandate free passage to american departed to help our exports in a tariff war.