
The explicit and veiled pressures and threats distributed to the right and
left in these first weeks by Donald Trump when he
returned to being the number one tenant of the White House
also affected the Hong Kong-based CK Hutchison Holdings Group
which today announced its decision to sell its
90% stake in Hutchison Ports PPC
(Panama Ports Company) to the consortium set up by the company
American investment company BlackRock and its investment fund
Global Infrastructure Partners (GIP), of which it has recently
completed the acquisition, and from the Luxembourg-based Terminal
Investment Limited (TiL), the group's terminal operator
Mediterranean Shipping Company (MSC).
But US pressure was perhaps not at the basis
of CK Hutchison's decision to divest itself of these assets
port as the consortium will not only go to the activities
of the Hong Kong group, but another slice of
much more substantial business than the Chinese group that
evidently it required very prolonged and previous negotiations
The statements of the tycoon-president. To BlackRock, GIP and TiL,
in fact, the participation of CK will also go
Hutchison in the terminal group Hutchison Port Holdings (Hutchison
Ports) which is equal to 80% of the company's capital, sale
which provides for controlling interests also in the Group's subsidiaries and which
will give the consortium the ownership and/or management of 199
docks in 43 ports in 23 countries as well as in all the
HPH equipment and related activities. From the sale it is
excluding the Hutchison Port Holdings Trust (HPH Trust) of Singapore,
which operates container terminals in the Chinese ports of Hong Kong,
Shenzhen and Hizhou as well as river ports in the country and
in which CK Hutchison owns approximately 30% of the capital.
CK Hutchison announced that the total enterprise value of the
companies covered by the agreement, including Panama Ports Company,
It amounts to $22.8 billion.
Commenting on the transaction, the president of TiL and president of the
MSCm group Diego Aponte, recalled that the relationship with Hutchison
Ports "dates back to a long time ago and is a relationship of
mutual respect and friendship. Furthermore - he added - we are very
pleased to partner with BlackRock and Global Infrastructure Partners
with whom we share a beautiful long-standing relationship. We
high esteem for the management team of Hutchison Ports and,
If this transaction is completed, we do not see
the time to welcome them into our extended family. We are very
focused on this sector and we know that investing in
Hutchison Ports will be a very profitable investment from the
from a commercial point of view".
PPC is the enterprise that owns and operates Panamanian ports
of Balboa and Cristobal and whose work, being owned by
had been questioned by Trump, together with the same
Panama Canal property, in the first days of its inception
of his second presidential term
(
of 21
and 23
January January 2025). Trump's utterances, although rejected
disdainfully by the President of the Republic of Panama, José
Raúl Mulino, had had immediate effect in the same
Central American nation, with the Contraloría General de la
República de Panamá which had announced an audit
on the Panama Ports Company and with the presentation of a
complaint to the Panamanian Supreme Court of Justice for the
alleged unconstitutionality of the law he had approved
the concession contract held by PPC
(
of 27
January and 4
February 2025). CK Hutchison said the deal
for the sale of the PPC will be signed by
next April 2nd.