BlackRock-backed group seeks to close CK Hutchison ports deal without Panama assets, FT reports

Core Viewpoint - A BlackRock-backed consortium is attempting to finalize the acquisition of CK Hutchison's global ports business, excluding two terminals in Panama that have been seized by authorities [1]. Group 1: Acquisition Details - The consortium, which includes Swiss-Italian shipping firm Mediterranean Shipping Company (MSC), is negotiating to purchase approximately 41 ports located across Europe, Southeast Asia, and the Middle East [1]. - The deal originally valued at $23 billion included control of the Panama assets by BlackRock and the majority of the remaining portfolio by MSC [1]. Group 2: Legal and Regulatory Context - In January, Panama's top court ruled that the concession for Hutchison's Panama Canal terminals was unconstitutional, leading to the seizure of these assets [1]. - Following the seizure, Hutchison's Panama Ports Company has initiated international arbitration proceedings against the Central American country [1]. Group 3: Company Strategy - CK Hutchison is actively seeking to divest its non-Chinese ports business, which encompasses 43 terminals across 23 countries [1].