Hong Kong-based conglomerate CK Hutchison, controlled by billionaire Li Ka-shing, has postponed the signing of a $19 billion deal to sell two strategic ports at the Panama Canal to a BlackRock-led consortium, according to the South China Morning Post.
The transaction, initially scheduled for finalization on April 2, was announced on March 4. Sources close to CK Hutchison stated that the delay does not indicate the deal has been abandoned but remains under negotiation.
CK Hutchison recently agreed to sell the bulk of its global ports business, including key assets near the Panama Canal, aiming to generate over $19 billion in cash. The company has yet to respond to requests for comment from Reuters.
The deal’s delay draws attention due to the strategic significance of the Panama Canal and BlackRock’s ongoing push into global infrastructure investments.
