BlackRock, led by CEO Laurence Douglas Larry Fink, is seeking to acquire the Panamanian ports of Balboa and Cristóbal from CK Hutchison Holdings Ltd. This involves the transfer of 43 global port operations, valued at $22.8 billion, including the aforementioned Panamanian ports managed by Panama Ports Company (PPC).
Fink anticipates a nine-month regulatory review period before the deal can close. He has reportedly discussed the agreement with US policymakers, emphasizing commercial rather than geopolitical interests.
Panamanian President José Raúl Mulino stated that Panama awaits official confirmation of the sale, asserting the government must approve such transactions per law and contract. China has voiced strong criticism of the deal.