CK Hutchinson Holdings says 80% stake sale to consortium unrelated to Trump claims of Chinese control of canal

CK Hutchison Holdings, the Hong Kong-based logistics giant, announced plans for investors including BlackRock Inc to buy an 80% stake in a business that controls ports in Panama for an equity value of $14.21bn.

The sale of 90% interest in Panama Ports Company, which owns and operates the ports of Balboa and Cristobal, comes as the US president, Donald Trump, piles on pressure to end what he sees as China’s influence and control over the Panama canal.