BlackRock-Backed Investors Acquire Key Panama Ports in $22.8B Deal

An investor consortium led by BlackRock (NYSE:BLK) has agreed to acquire a majority stake in Hong Kong-based CK Hutchison’s global port assets, including key docks on both sides of the Panama Canal. The $22.8 billion transaction hands control of these critical ports to U.S. and Swiss investors, aligning with the White House’s push to reduce Chinese influence in strategic locations.

The deal includes 43 ports across 23 countries but excludes CK Hutchison’s assets in China. The consortium, which includes BlackRock, Global Infrastructure Partners, and Terminal Investment, will take an 80% interest in Hutchison Ports, securing a 90% stake in Panama Ports Company, which operates the Balboa and Cristobal ports.

This move follows U.S. President Donald Trump’s vow to assert American influence over the canal, a critical trade route where over 75% of traffic is linked to the U.S. Trump previously expressed concerns over Chinese firms’ presence in Panama, and the sale is being viewed as a major geopolitical win for Washington.

U.S. Secretary of State Marco Rubio, a vocal critic of China’s influence in Latin America, had urged Panama to distance itself from Beijing. His recent visit coincided with Panama’s decision to exit China’s Belt and Road Initiative. The Panamanian government is also auditing CK Hutchison’s concession agreements amid legal challenges regarding its operations.

BlackRock, the world’s largest asset manager, has briefed the White House and congressional leaders on the acquisition, which marks its biggest infrastructure investment to date. The consortium has entered an exclusive 145-day negotiation period to finalize the agreement.

This acquisition reinforces U.S. economic and strategic interests in Latin America while positioning BlackRock for long-term infrastructure dominance.