CK Hutchison eyes Chinese bidding partner for $22.8 billion port sale HONG KONG (Reuters) -CK Hutchison said on Monday it wants a major Chinese strategic investor to join the consortium bidding for its $22.8 billion ports business, after media reports that state-owned China COSCO Shipping Corp may join the group. In a statement, CK Hutchison said changes to the consortium’s composition and the structure of the transaction will be necessary for the deal to secure regulatory approvals, and that it will allow as much time as needed to achieve those. The announcement comes as a 145-day exclusivity period for talks between CK Hutchison and the original bidding consortium - led by BlackRock (NYSE:BLK) and Gianluigi Aponte’s MSC - expired on Sunday. The deal, which includes two ports near the strategically crucial Panama Canal, has become highly politicised as tension escalates between China and the United States. Beijing views the potential sale as a threat to its interests, seeing the BlackRock-led consortium as a proxy for growing American influence in a region China considers economically and geopolitically significant. The outlook for the deal has grown increasingly uncertain in recent days, with sources telling Reuters that COSCO - a key player in China’s global maritime ambitions - is exploring a role in the bid.

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China urges caution in CK Hutchison’s port sale to BlackRock-led consortium Investing.com -- China’s foreign ministry has called for cautious action from all parties involved in the planned sale of CK Hutchison’s majority port operations to a consortium led by BlackRock (NYSE:BLK), according to state news agency Xinhua. The Hong Kong-based conglomerate’s sale has attracted political attention due to two of the ports being located next to the strategically significant Panama Canal, amidst escalating trade tensions between the U.S. and China. The Wall Street Journal reported on April 16, citing sources familiar with the matter, that the MSC shipping empire, a member of the BlackRock consortium, has been in talks about proceeding with the majority of the deal while disputes over the two Panama ports are settled. Guo Jiakun, a spokesperson for the foreign ministry, acknowledged the reports during a regular press briefing, as reported by Xinhua. In addition, the spokesperson encouraged the involved parties to maintain open communication with the relevant Chinese departments. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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