Infrastructure

The World's Largest Asset Manager, BlackRock To Acquire Two Major Panama Canal Ports For $22.8B

A consortium of investors led by BlackRock has agreed on a deal in principle to buy a 90% stake in ports on both sides of the Panama Canal (Balboa & Cristobal) from HK-based conglomerate CK Hutchison Holdings Ltd for $22.8 billion.

According to a joint announcement, the deal also includes an 80% stake in CK Hutchison’s broader port operations, which span 43 ports in 23 countries.

This marks the largest infrastructure deal in BlackRock’s history and comes shortly after its acquisition of leading alternative investment manager, Global Infrastructure Partners (GIP), which also participated in the transaction.