A BlackRock-led consortium consisting of Global Infrastructure Partners and Terminal Investment Ltd. has struck a $22.8 billion preliminary agreement with CK Hutchison, a Hong Kong-based port investor, developer and operator, for the acquisition of majority stakes in ports along the Panama Canal, as well as dozens of others across the world.
The BlackRock-TiL Consortium will acquire Hutchison Port Holdings’ (HPH) 90 percent interests in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal in Panama, and CK Hutchison’s 80 percent controlling interest in companies owning, operating and developing a total of 43 ports comprising 199 berths in 23 countries. The deal also encompasses all of HPH’s management resources, operations, terminal-operating systems, IT and other systems, and other assets pertaining to control and operations of those ports.
The deal does not include any interest in the HPH Trust, which operates ports in Hong Kong, Shen
