Latest news with #CKHutchison
South China Morning Post
2 days ago
- Business
- South China Morning Post
Hong Kong's CK Hutchison ports sale on thin ice amid US-China tensions: analysts
The US$23 billion sale of global port stakes by Hong Kong's CK Hutchison could be subject to substantial changes if it is not already on the verge of collapse, with Chinese and Panamanian authorities possibly rejecting the terms, legal and logistics experts have said ahead of the deal's deadline for exclusive negotiation. Their analysis followed national security and anti-monopoly concerns cited by both countries, with a recent news report suggesting that a state-owned shipping company was now involved in the negotiation to ease Beijing's concerns. The deal , which includes the Balboa and Cristobal ports at both ends of the Panama Canal, was caught in the crossfire of geopolitical tensions between the United States and China just weeks before a crucial July 27 exclusive negotiation deadline. The transaction involves CK Hutchison Holdings selling stakes in 43 ports to a consortium led by Terminal Investment Limited, an affiliate of the world's largest container line MSC, and US asset management giant BlackRock and Global Infrastructure Partners. 'The deal regarding price, due diligence and financing is basically done. What remains are the signoffs from the Panamanian and mainland authorities,' said Surinder Brrar, a professor of practice in global shipping and logistics at Polytechnic University. He described these approvals as 'big hurdles' that could derail the entire transaction if not surmounted.
Reuters
6 days ago
- Business
- Reuters
Chinese firms in talks to join group to buy Li Ka-shing's ports, Bloomberg News reports
June 12 (Reuters) - Chinese ports operator China Cosco Shipping Corporation is among the firms in talks to participate in a global consortium seeking to buy 43 ports from billionaire Li Ka-shing-owned CK Hutchison ( opens new tab, Bloomberg News reported on Thursday. CK Hutchison said last month that Mediterranean Shipping Company, run by the family of Italian billionaire Gianluigi Aponte, was the main investor in a group seeking the portfolio of ports, which includes two near the Panama Canal, for $22.8 billion. Negotiation for the deal that covers 43 ports in 23 countries is on an exclusive basis between CK Hutchison and the consortium for 145 days until July 27. Adding Chinese investors to the consortium emerged as one of the options after high-level talks in Switzerland last month between Chinese and U.S. officials, the Bloomberg report said. China Cosco Shipping Corp is among the state-backed companies in talks with the consortium run by the Aponte family, the report said. CK Hutchison and China Cosco Shipping didn't immediately respond to Reuters requests for comment. Reuters could not immediately verify the report. The deal has been through weeks of global scrutiny and criticism in China and the U.S. over CK Hutchison's plan to sell the ports to a consortium, previously led by U.S. investment firm BlackRock (BLK.N), opens new tab. BlackRock remains part of the group.
Business Times
7 days ago
- Business
- Business Times
Chinese firms may join group seeking to buy Li Ka-shing's ports: sources
[HONG KONG] China's largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing's global ports, according to people familiar with the matter, in an effort to ease Beijing's concerns over the controversial deal. China Cosco Shipping is one of several Chinese state-backed companies in discussions with the consortium led by Italian billionaire Gianluigi Aponte's Terminal Investment on matters including how they might participate in the port deal, the people said, asking not to be identified discussing private information. The buying group also includes US firm BlackRock and its Global Infrastructure Partners unit. The inclusion of Chinese investors in the consortium emerged as one of the options to advance the ports sale after high-stakes talks in Switzerland last month between Chinese and US officials, some of the people said. Beijing has fiercely opposed the sale – including two ports along the Panama Canal – over concerns it could affect its global shipping and trade ambitions. Meanwhile, US President Donald Trump celebrated the deal as returning the strategic waterway to American influence. Once completed, the agreement to sell the two Panama ports and 41 others around the world is expected to net tycoon Li's CK Hutchison Holdings more than US$19 billion in cash. Talks are ongoing and the details are not yet finalised, the people said. Cosco, CK Hutchison and the Aponte family's MSC Mediterranean Shipping, which controls Terminal Investment, did not respond to requests for comment. BlackRock declined to comment. The talks are the latest twist in one of billionaire Li's most geopolitically challenging deals amid escalating tensions between the world's two largest economies over global trade. The development has raised hopes that it could ease China's concerns over the proposed transaction, which has been blasted by pro-Beijing newspapers as a betrayal of the nation and kowtowing to US pressure. The country's market watchdog has vowed to review the sale, and Bloomberg News reported in March that authorities told state-owned firms to hold off on any new collaboration with businesses linked to Li and his family. Despite the progress of the talks, a deal could still falter. A 145-day period for exclusive talks between CK Hutchison and the consortium ends in late July, and the parties have already missed an initial goal of signing an agreement on the Panama part of the deal by early April. The current structure of the buyer consortium will give Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock, Bloomberg reported in April. Terminal Investment parent MSC has 28 offices across Greater China. It runs a terminal in China's eastern city Ningbo and operates dozens of shipping services between the country and the rest of the world. In an interview with the Financial Times earlier this week, the head of the Panama Canal Authority said the consortium's structure means a concentrated terminal ownership which could threaten the waterway's competitiveness and neutrality. In response, China's Ministry of Foreign Affairs said it supports Panama in defending its independence and reiterated its opposition to economic bullying. BLOOMBERG
Business Times
7 days ago
- Business
- Business Times
Chinese firms in talks to join group for Li Ka-Shing's ports
[HONG KONG] China's largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing's global ports, according to people familiar with the matter, in an effort to ease Beijing's concerns over the controversial deal. China Cosco Shipping Corp is one of several Chinese state-backed companies in discussions with the consortium led by Italian billionaire Gianluigi Aponte's Terminal Investment on matters including how they might participate in the port deal, the people said, asking not to be identified discussing private information. The buying group also includes US firm BlackRock and its Global Infrastructure Partners unit. The inclusion of Chinese investors in the consortium emerged as one of the options to advance the ports sale after high-stakes talks in Switzerland last month between Chinese and US officials, some of the people said. Beijing has fiercely opposed the sale – including two ports along the Panama Canal – over concerns it could affect its global shipping and trade ambitions. Meanwhile, US President Donald Trump celebrated the deal as returning the strategic waterway to American influence. Once completed, the agreement to sell the two Panama ports and 41 others around the world is expected to net tycoon Li's CK Hutchison Holdings more than US$19 billion in cash. Talks are ongoing and the details are not yet finalised, the people said. Cosco, CK Hutchison and the Aponte family's MSC Mediterranean Shipping, which controls Terminal Investment, did not respond to requests for comment. BlackRock declined to comment. The talks are the latest twist in one of billionaire Li's most geopolitically challenging deals amid escalating tensions between the world's two largest economies over global trade. The development has raised hopes that it could ease China's concerns over the proposed transaction, which has been blasted by pro-Beijing newspapers as a betrayal of the nation and kowtowing to US pressure. The country's market watchdog has vowed to review the sale, and Bloomberg News reported in March that authorities told state-owned firms to hold off on any new collaboration with businesses linked to Li and his family. Despite the progress of the talks, a deal could still falter. A 145-day period for exclusive talks between CK Hutchison and the consortium ends in late July and the parties have already missed an initial goal of signing an agreement on the Panama part of the deal by early April. The current structure of the buyer consortium will give Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock, Bloomberg reported in April. Terminal Investment parent MSC has 28 offices across Greater China. It runs a terminal in China's eastern city Ningbo and operates dozens of shipping services between the country and the rest of the world. In an interview with the Financial Times earlier this week, the head of the Panama Canal Authority said the consortium's structure means a concentrated terminal ownership which could threaten the waterway's competitiveness and neutrality. In response, China's Ministry of Foreign Affairs said it supports Panama in defending its independence and reiterated its opposition to economic bullying. BLOOMBERG
Straits Times
13-06-2025
- Business
- Straits Times
Chinese firms in talks to join group to buy Li Ka-Shing's ports
Beijing has fiercely opposed the sale, which includes two ports along the Panama Canal. PHOTO: REUTERS Hong Kong – China's largest shipping company is among the firms in talks to invest in a multinational consortium seeking to buy billionaire Li Ka-shing's global ports, according to people familiar with the matter, in an effort to ease Beijing's concerns over the controversial deal. China Cosco Shipping is one of several Chinese state-backed companies in discussions with the consortium led by Italian billionaire Gianluigi Aponte's Terminal Investment Ltd. on matters including how they might participate in the port deal, the people said. The buying group also includes US firm BlackRock and its Global Infrastructure Partners unit. The inclusion of Chinese investors in the consortium emerged as one of the options to advance the ports sale after high-stakes talks in Switzerland in May between Chinese and US officials, some of the people said. Beijing has fiercely opposed the sale – including two ports along the Panama Canal – over concerns it could affect its global shipping and trade ambitions. Meanwhile, US President Donald Trump celebrated the deal as returning the strategic waterway to American influence. Once completed, the agreement to sell the two Panama ports and 41 others around the world is expected to net tycoon Mr Li's CK Hutchison Holdings more than US$19 billion (S$24 billion) in cash. Talks are ongoing and the details are not yet finalised, the people said. Cosco, CK Hutchison and the Aponte family's MSC Mediterranean Shipping Co. (MSC), which controls Terminal Investment, didn't respond to requests for comment. BlackRock declined to comment. The talks are the latest twist in one of billionaire Mr Li's most geopolitically challenging deals amid escalating tensions between the world's two largest economies over global trade. The development has raised hopes that it could ease China's concerns over the proposed transaction, which has been blasted by pro-Beijing newspapers as a betrayal of the nation and kowtowing to US pressure. The country's market watchdog has vowed to review the sale, and Bloomberg News reported in March that authorities told state-owned firms to hold off on any new collaboration with businesses linked to Mr Li and his family. Despite the progress of the talks, a deal could still falter. A 145-day period for exclusive talks between CK Hutchison and the consortium ends in late July and the parties have already missed an initial goal of signing an agreement on the Panama part of the deal by early April. The current structure of the buyer consortium will give Terminal Investment ownership of all the ports except the two in Panama, whose control will go to BlackRock, Bloomberg reported in April. Terminal Investment parent MSC has 28 offices across Greater China. It runs a terminal in China's eastern city Ningbo and operates dozens of shipping services between the country and the rest of the world. In an interview with the Financial Times earlier this week, the head of the Panama Canal Authority said the consortium's structure means a concentrated terminal ownership which could threaten the waterway's competitiveness and neutrality. In response, China's Ministry of Foreign Affairs said it supports Panama in defending its independence and reiterated its opposition to economic bullying. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
