14 March 2025

CK Hutchison Holdings Ltd have agreed a deal in principle to sell 90% of Panama Port Company to BlackRock-TiL for US$22.8b. This will give BlackRock Inc through Global Infrastructure Partners and Terminal Investment Ltd control over the concession to operate ports in Cristobal and Balboa in Panama. The consortium already has interest in 43 ports, 199 berths in 23 countries. The final signing of the agreement is expected to be completed on or before 2nd April. The deal comes as the US places significant regional pressure on Chinese influence and maintains an interest in acquiring the Panama Canal, something Panama President José Raúl Mulino has repeatedly stated is not an option. Panama’s Attorney General, Luis Gómez, stated in January the concession contracts between the state and PPC were unconstitutional. There is a lawsuit pending before the country’s Supreme Court.

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