BlackRock to Buy Panama Canal Ports

A consortium of firms led by BlackRock, the world’s largest asset manager, is buying two key ports in the Panama Canal from a Hong Kong (Chinese controlled) based firm as part of a $23 Billion deal after President Donald Trump expressed concern that the strategic waterway was falling under Chinese influence. 

BlackRock, with a portfolio of investments valued at $11.5 Trillion, has agreed to purchase majority stakes in ports on both sides of the Panama Canal from Hong Kong-based CK Hutchison in a multipart transaction worth $22.8 Billion. 

Beyond the Panama canal ports, the deal with CK Hutchison includes 43 additional ports across 23 countries. 

The deal will shift control of the strategic ports of Balboa and Cristobal into American corporate hands, a move that aligns the Trump Administration’s concerns over foreign influence near the Canal.

While Panama retains full sovereignty over the Canal itself, the presence of Chinese-controlled ports has been flagged as a potential security risk by U.S. officials.