Hong Kong-based conglomerate CK Hutchison has said it plans to bring on a “major” Chinese investor for a consortium backed by US asset manager BlackRock as the company seeks Beijing’s approval for a $23bn ports sale that includes key assets in the Panama Canal.
While CK Hutchison did not name the investor, four people close to the discussions said China’s state-owned shipping conglomerate Cosco was in talks to join the group that includes Swiss-Italian shipping company MSC.
Under one of the options being discussed, Cosco would receive a stake in 41 global ports but not the two Panama Canal ports that US President Donald Trump has alleged of Chinese influence, said three of the people.