A consortium led by BlackRock Inc. has agreed to purchase a 90% stake in Panama Ports Company from Hong Kong-based CK Hutchison Holdings for $22.8 billion, the Wall Street Journal reported. This acquisition includes the strategic Balboa and Cristobal ports, located at the Pacific and Atlantic entrances of the Panama Canal, respectively.
The deal also encompasses 43 additional ports across 23 countries, expanding BlackRock’s global infrastructure footprint. The consortium includes Global Infrastructure Partners and Terminal Investment Limited.
This move aligns with the Trump administration’s concerns over Chinese influence in critical infrastructure. President Donald Trump has previously expressed apprehension about China’s role in the Panama Canal, stating intentions to reassert U.S. influence over the strategic waterway.
In his inaugural address, Trump stated, “China is operating the Panama Canal, and we didn’t give it to China.”
The transaction requires approval from Panama’s government. CK Hutchison’s co-managing director, Frank Sixt, stated “I would like to stress that the transaction is purely commercial in nature and wholly unrelated to recent political news reports concerning the Panama Ports.”
