A coalition of billionaire investors, including BlackRock CEO Larry Fink, infrastructure mogul Adebayo Ogunlesi, and Hong Kong tycoon Li Ka-shing, has orchestrated a $22.8 billion acquisition of key global ports—most notably, two strategic locations at either end of the Panama Canal. The deal, which unfolded with remarkable speed, underscores the influence of U.S. President Donald Trump on global business maneuvers.
The Financial Times (FT) reports that Trump’s inauguration speech, where he vowed to “take back” the Panama Canal, set the stage for the transaction. CK Hutchison, the ports and infrastructure giant controlled by Li Ka-shing, swiftly moved to offload its holdings, anticipating that U.S. pressure could pose a growing challenge. Instead of selling only the politically sensitive Panama ports, CK Hutchison opted for a sweeping divestment of 43 ports worldwide, a move that has since lifted its share price by over 20%.
BlackRock, which led the bid alongside Global Infrastructure Partners (GIP) and Terminal Investment Limited (TIL), secured the deal in a matter of weeks. According to FT, the usual corporate advisory heavyweights were largely absent, with negotiations conducted via video calls and private conversations at the highest levels. Goldman Sachs managed a discreet sale process, and former Citigroup CEO Michael Corbat played a behind-the-scenes role in advising CK Hutchison.
Trump, who was briefed on the deal ahead of its announcement, publicly lauded the transaction as a step toward reclaiming control over the crucial waterway. His close political ally, Senator Marco Rubio, was also kept informed throughout the negotiations.
The sale marks a significant strategic shift for CK Hutchison, which has long considered ports a core business. The cash influx—estimated at $19 billion—will likely be used for shareholder rewards and potential acquisitions, including a bid for the UK’s Thames Water. Meanwhile, BlackRock’s involvement in the deal aligns with its recent push into private infrastructure markets following its acquisition of GIP last year.
Analysts were caught off guard by the sale, with JPMorgan calling it a “major surprise.” The transaction excludes CK Hutchison’s China-based ports, a decision seen as a strategic move to avoid regulatory and political hurdles. As global investors reposition themselves in response to shifting geopolitical dynamics, this deal highlights the growing intersection of politics, business, and infrastructure control.
