Latest news with #DeniseWong
Kuwait Times
a day ago
- Business
- Kuwait Times
CK Hutchison eyes Chinese investor for Panama ports deal
NANJING: Containers are seen at the port in Nanjing, in China's eastern Jiangsu province on July 28, 2025. -- AFP HONG KONG: Hong Kong conglomerate CK Hutchison said Monday it was considering inviting a Chinese 'major strategic investor' to join a US-led consortium negotiating the sale of its global ports business outside China, including operations at the Panama Canal. The firm said in March it was offloading the ports - including operations in the vital Central American waterway - to a group led by asset manager BlackRock for $19 billion in cash. The sale was seen as a political victory for US President Donald Trump, who had vowed to 'take back' the Panama Canal from alleged Chinese control, prompting Beijing's ire. China's market regulator said in March it was reviewing the deal. '(CK Hutchison) remains in discussions with members of the consortium with a view to inviting (a) major strategic investor from (China) to join as a significant member of the consortium,' CK Hutchison said in a stock exchange filing Monday. The firm added that changes to the consortium's membership and deal structure will be needed for the deal 'to be capable of being approved by all relevant authorities'. It said the 'period for exclusive negotiations' mentioned in the March announcement had expired, but discussions will continue. It did not name the major investor. China's biggest shipping company Cosco was set to join the consortium and was requesting veto rights or equivalent powers, Bloomberg News reported. Bloomberg Intelligence analyst Denise Wong told the outlet that 'ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability'. 'Keeping everyone happy' Gary Ng, senior economist for Asia Pacific at Natixis, said Monday's developments show that 'business deals can be increasingly subject to politics in the new economic and geopolitical reality' as the Hong Kong conglomerate seeks to 'keep everyone happy'. CK Hutchison said it 'intends to allow such time as is required for such discussions to achieve' a workable arrangement. It said it had stated on several occasions that it 'will not proceed with any transaction that does not have the approval of all relevant authorities'. Chinese foreign ministry spokesman Guo Jiakun said Beijing will 'carry out supervision in accordance with the law, firmly safeguard national sovereignty, security and development interests, and maintain a fair and just market'. CK Hutchison's Hong Kong-listed shares fell 0.84 percent on Monday, while Cosco dropped 2.85 percent. The consortium's original structure was designed to pass control of CK Hutchison's two Panama ports to BlackRock's Global Infrastructure Partners unit, while the remaining ports will go to Italian billionaire Gianluigi Aponte's Terminal Investment Limited. AFP has contacted Cosco for comment. The Panama Ports Company, a CK Hutchison subsidiary, has managed the port of Cristobal on the canal's Atlantic side and Balboa on the Pacific side since 1997, via a concession from the Panama government. — AFP
Business Insider
2 days ago
- Business
- Business Insider
M&A News: China Crisis Eases for BlackRock as $22.8B Panama Ports Deal Moves Closer
Hong Kong conglomerate CK Hutchison has bowed to political pressure from the Chinese government to keep its $22.8 billion Panama Ports deal with U.S. asset manager BlackRock (BLK) on track. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Major Investor CK Hutchison said today that it was considering inviting a Chinese 'major strategic investor' to join the BlackRock-led consortium negotiating the sale of its global ports business outside China, including operations at the Panama Canal. BlackRock stock rose 0.4% in pre-market trading in the hope that this could mean the deal finally gets done. Although as can be seen below its share price has performed well recently despite the uncertainty around the deal. The proposed sale in March to BlackRock and Mediterranean Shipping Company (MSC) includes two ports at either end of the Panama Canal and more than 40 others around the world. However, the Chinese government has repeatedly expressed concerns about the deal. This has included slamming CK for betraying the Chinese people and being 'spineless.' It was concerned, and presumably still is, that the deal could hit China's shipping and trade interests. CK did not say who the investor was, but it follows a report earlier this month that China wants state-owned shipping giant Cosco to be an equal partner and shareholder in the ports or else it would block the sale. Trump Barrier 'We remain in discussions with members of the consortium with a view to inviting a major strategic investor from China to join as a significant member of the consortium,' CK Hutchison said. It added that changes to the consortium's membership and deal structure will be needed for the deal 'to be capable of being approved by all relevant authorities'. It said the 'period for exclusive negotiations' mentioned in the March announcement with BlackRock and MSC had expired, but discussions will continue. Bloomberg Intelligence analyst Denise Wong said that 'ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability.' However, President Trump may be one final barrier for the deal to get over. The sale was seen as a political victory for Trump, who had vowed to 'take back' the Panama Canal from alleged Chinese control. Bringing Cosco into the deal would not sit well with Trump, especially during the tariff trade war between the U.S. and China. Is BLK a Good Stock to Buy Now? On TipRanks, BLK has a Strong Buy consensus based on 13 Buy and 1 Hold ratings. Its highest price target is $1,224. BLK stock's consensus price target is $1,168.79, implying a 4.05% upside.
Daily Express
2 days ago
- Business
- Daily Express
CK Hutchison eyes ‘major' Chinese investor for Panama ports deal
Published on: Tuesday, July 29, 2025 Published on: Tue, Jul 29, 2025 Text Size: Cranes and containers are seen along the Panama Canal. Hong Kong conglomerate CK Hutchison said it was considering inviting a Chinese 'major strategic investor' to join a US-led consortium negotiating the sale of its global ports business, including operations at the Panama Canal. HONG KONG: Hong Kong conglomerate CK Hutchison said Monday it was considering inviting a Chinese 'major strategic investor' to join a US-led consortium negotiating the sale of its global ports business outside China, including operations at the Panama Canal. The firm said in March it was offloading the ports – including operations in the vital Central American waterway – to a group led by asset manager BlackRock for $19 billion in cash. The sale was seen as a political victory for US President Donald Trump, who had vowed to 'take back' the Panama Canal from alleged Chinese control, prompting Beijing's ire. China's market regulator said in March it was reviewing the deal. '(CK Hutchison) remains in discussions with members of the consortium with a view to inviting (a) major strategic investor from (China) to join as a significant member of the consortium,' CK Hutchison said in a stock exchange filing Monday. The firm added that changes to the consortium's membership and deal structure will be needed for the deal 'to be capable of being approved by all relevant authorities'. It said the 'period for exclusive negotiations' mentioned in the March announcement had expired, but discussions will continue. It did not name the major investor. China's biggest shipping company Cosco was set to join the consortium and was requesting veto rights or equivalent powers, Bloomberg News reported. Bloomberg Intelligence analyst Denise Wong told the outlet that 'ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability'. Gary Ng, senior economist for Asia Pacific at Natixis, said Monday's developments show that 'business deals can be increasingly subject to politics in the new economic and geopolitical reality' as the Hong Kong conglomerate seeks to 'keep everyone happy'. CK Hutchison said it 'intends to allow such time as is required for such discussions to achieve' a workable arrangement. It said it had stated on several occasions that it 'will not proceed with any transaction that does not have the approval of all relevant authorities'. Its Hong Kong-listed shares fell 0.6 percent Monday, while Cosco dropped 2.2 per cent. The consortium's original structure was designed to pass control of CK Hutchison's two Panama ports to BlackRock's Global Infrastructure Partners unit, while the remaining ports will go to Italian billionaire Gianluigi Aponte's Terminal Investment Limited. AFP has contacted Cosco for comment. The Panama Ports Company, a CK Hutchison subsidiary, has managed the port of Cristobal on the canal's Atlantic side and Balboa on the Pacific side since 1997, via a concession from the Panama government. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
France 24
2 days ago
- Business
- France 24
CK Hutchison eyes 'major' Chinese investor for Panama ports deal
The firm said in March it was offloading the ports -- including operations in the vital Central American waterway -- to a group led by asset manager BlackRock for $19 billion in cash. The sale was seen as a political victory for US President Donald Trump, who had vowed to "take back" the Panama Canal from alleged Chinese control, prompting Beijing's ire. China's market regulator said in March it was reviewing the deal. "(CK Hutchison) remains in discussions with members of the consortium with a view to inviting (a) major strategic investor from (China) to join as a significant member of the consortium," CK Hutchison said in a stock exchange filing Monday. The firm added that changes to the consortium's membership and deal structure will be needed for the deal "to be capable of being approved by all relevant authorities". It said the "period for exclusive negotiations" mentioned in the March announcement had expired, but discussions will continue. It did not name the major investor. China's biggest shipping company Cosco was set to join the consortium and was requesting veto rights or equivalent powers, Bloomberg News reported. Bloomberg Intelligence analyst Denise Wong told the outlet that "ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability". 'Keeping everyone happy' Gary Ng, senior economist for Asia Pacific at Natixis, said Monday's developments show that "business deals can be increasingly subject to politics in the new economic and geopolitical reality" as the Hong Kong conglomerate seeks to "keep everyone happy". CK Hutchison said it "intends to allow such time as is required for such discussions to achieve" a workable arrangement. It said it had stated on several occasions that it "will not proceed with any transaction that does not have the approval of all relevant authorities". Chinese foreign ministry spokesman Guo Jiakun said Beijing will "carry out supervision in accordance with the law, firmly safeguard national sovereignty, security and development interests, and maintain a fair and just market". CK Hutchison's Hong Kong-listed shares fell 0.84 percent on Monday, while Cosco dropped 2.85 percent. The consortium's original structure was designed to pass control of CK Hutchison's two Panama ports to BlackRock's Global Infrastructure Partners unit, while the remaining ports will go to Italian billionaire Gianluigi Aponte's Terminal Investment Limited. AFP has contacted Cosco for comment.
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
CK Hutchison Eyes 'Major' Chinese Investor For Panama Ports Deal
Hong Kong conglomerate CK Hutchison said Monday it was considering inviting a Chinese "major strategic investor" to join a US-led consortium negotiating the sale of its global ports business outside China, including operations at the Panama Canal. The firm said in March it was offloading the ports -- including operations in the vital Central American waterway -- to a group led by asset manager BlackRock for $19 billion in cash. The sale was seen as a political victory for US President Donald Trump, who had vowed to "take back" the Panama Canal from alleged Chinese control, prompting Beijing's ire. China's market regulator said in March it was reviewing the deal. "(CK Hutchison) remains in discussions with members of the consortium with a view to inviting (a) major strategic investor from (China) to join as a significant member of the consortium," CK Hutchison said in a stock exchange filing Monday. The firm added that changes to the consortium's membership and deal structure will be needed for the deal "to be capable of being approved by all relevant authorities". It said the "period for exclusive negotiations" mentioned in the March announcement had expired, but discussions will continue. It did not name the major investor. China's biggest shipping company Cosco was set to join the consortium and was requesting veto rights or equivalent powers, Bloomberg News reported. Bloomberg Intelligence analyst Denise Wong told the outlet that "ongoing negotiations and the reported inclusion of Cosco Shipping in the consortium have likely eased concerns over Chinese regulatory hurdles, strengthening investor confidence in the deal's viability". Gary Ng, senior economist for Asia Pacific at Natixis, said Monday's developments show that "business deals can be increasingly subject to politics in the new economic and geopolitical reality" as the Hong Kong conglomerate seeks to "keep everyone happy". CK Hutchison said it "intends to allow such time as is required for such discussions to achieve" a workable arrangement. It said it had stated on several occasions that it "will not proceed with any transaction that does not have the approval of all relevant authorities". Chinese foreign ministry spokesman Guo Jiakun said Beijing will "carry out supervision in accordance with the law, firmly safeguard national sovereignty, security and development interests, and maintain a fair and just market". CK Hutchison's Hong Kong-listed shares fell 0.84 percent on Monday, while Cosco dropped 2.85 percent. The consortium's original structure was designed to pass control of CK Hutchison's two Panama ports to BlackRock's Global Infrastructure Partners unit, while the remaining ports will go to Italian billionaire Gianluigi Aponte's Terminal Investment Limited. AFP has contacted Cosco for comment. The Panama Ports Company, a CK Hutchison subsidiary, has managed the port of Cristobal on the canal's Atlantic side and Balboa on the Pacific side since 1997, via a concession from the Panama government.
