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Hong Kong firm to sell stake in Panama ports amid Trump pressure

Hong Kong firm to sell stake in Panama ports amid Trump pressure

Deal with US finance giant BlackRock, valued at almost $23bn, comes amid push to curb perceived China influence

CK Hutchison Holdings, the Hong Kong-based logistics giant, announced plans to sell a majority stake in a business that controls ports in Panama to investors including the US financial giant BlackRock in a deal worth almost $23bn.

The sale of a 90% interest in Panama Ports Company, which holds the contract to run the ports of Balboa and Cristóbal until 2047, is part of a wider deal for Hutchison Port’s global business. The deal comes at a time Donald Trump has piled on pressure to end what he sees as China’s influence and control over the Panama canal.

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