/

|

BlackRock announced a $22.8 billion deal with CK Hutchison’s subsidiary Hutchison Port Holdings, to acquire a 90% stake in Panama Ports Company, which runs the Cristobal and Balboa ports at the Atlantic and Pacific ends of the Panama Canal, respectively. It will also acquire Hutchison’s controlling interest in 43 ports in 23 other countries, covering 199 berths.

The world’s largest asset manager with $11 trillion in assets, will partner with Terminal Investment Limited (TiL) to run the massive port network with BlackRock’s subsidiary Global Infrastructure Partners (GIP).