A BlackRock-backed consortium is pushing to close a contentious ports deal without two terminals on the Panama Canal after authorities seized the assets.
Swiss-Italian shipping company MSC and the global asset manager are in negotiations with CK Hutchison to acquire its operations at 41 ports in Europe, south-east Asia and the Middle East, but not in Panama, according to two people familiar with the talks.
The move comes after the Central American country’s top court ruled that the concession for a unit of CK Hutchison to run ports at either end of the Panama Canal was unconstitutional. Authorities took control of the terminals last month.