Latest news with #GianluigiAponte
New York Post
13-06-2025
- Business
- New York Post
China-backed firms in talks to join stalled $19B Panama ports deal: report
Several China state-backed firms – including the country's largest shipping company – are reportedly in talks to join a stalled $19 billion deal for 43 global ports, including two along the Panama Canal. China's Cosco Shipping Corp. has held discussions about partnering with a global consortium headed by Italian billionaire Gianluigi Aponte's Terminal Investment Ltd., as well as US asset manager BlackRock and its Global Infrastructure Partners unit, sources familiar with the matter told Bloomberg. The move comes after Beijing's fierce opposition has jeopardized a deal that would hand over control of the ports owned by Hong Kong business magnate Li Ka-Shing to TiL and BlackRock, the world's largest asset manager led by Larry Fink. 3 China's largest shipping company is reportedly in talks to join a group of investors in a massive ports deal including two along the Panama Canal. REUTERS President Trump had touted the sale of the ports as a national security win after demanding the US 'take back' the Panama Canal and eliminate Chinese influence over the critical shipping lane. The inclusion of Cosco and other China state-backed companies emerged as a way to nudge the deal forward after intense trade talks between US officials and their Beijing counterparts over tariffs in Switzerland last month, sources told Bloomberg. The consortium is staring down a deadline in late July after a 145-day period for talks on the ports deal expires, and have already missed an initial goal of signing an agreement by early April. Aponte's family-run business – Mediterranean Shipping Company, which owns TiL – has emerged as the lead investor, though BlackRock is notably expected to take over the two Panama ports included in the sale. The deal is expected to crown Aponte's MSC as the world's largest terminal operator after acquiring the ports from Li's CK Hutchison Holdings. China has steadfastly opposed the deal over concerns it could hinder its global trade and shipping operations. 3 Hong Kong business magnate Li Ka-Shing is the senior adviser for ports operator CK Hutchison Holdings. Bloomberg via Getty Images Talks are ongoing and terms of the deal have not been finalized, sources told Bloomberg. BlackRock declined to comment. Cosco Shipping and TiL did not immediately respond to requests for comment. The White House and CK Hutchinson did not immediately respond to The Post's request for comment. The canal, which was finished by US engineers, was handed back to Panama between 1977 and 1999 under a Jimmy Carter-era treaty establishing permanent neutrality. 3 Italian billionaire Gianluigi Aponte owns Mediterranean Shipping Company. AFP via Getty Images The head of the operator of the Panama Canal has warned that the deal could threaten its commitment to neutrality. 'There is a potential risk of capacity concentration if the deal comes the way it is structured as we understand right now,' Ricaurte Vasquez Morales, administrator of the Panama Canal, told the Financial Times in an interview published this week. 'If there is a significant level of concentration on terminal operators belonging to an integrated or one single shipping company, it will be at the expense of Panama's competitiveness in the market and inconsistent with neutrality.'
Reuters
10-06-2025
- Business
- Reuters
Panama Canal boss says MSC ports deal threatens neutrality, FT reports
June 10 (Reuters) - The sale of two ports near the Panama Canal to a global consortium led by Mediterranean Shipping Company (MSC) threatens the canal's principle of neutrality, the canal's head Ricaurte Vasquez told the Financial Times. "There is a potential risk of capacity concentration if the deal comes the way it is structured as we understand right now,' Vasquez told the FT in a report published on Tuesday. "If there is a significant level of concentration on terminal operators belonging to an integrated or one single shipping company, it will be at the expense of Panama's competitiveness in the market and inconsistent with neutrality." MSC is one of the world's top container shipping groups. MSC and the Panama Canal Authority did not immediately respond to a Reuters request for comment. CK Hutchison ( opens new tab confirmed last month that MSC, run by the family of Italian billionaire Gianluigi Aponte, was the main investor in a group seeking to buy 43 ports, including the two ports in Panama, for $22.8 billion. The clarification follows weeks of scrutiny and criticism in China over CK Hutchison's plan to sell the ports to a consortium, which was previously led by U.S. investment firm BlackRock (BLK.N), opens new tab. BlackRock remains part of the group. The proposed sale has also drawn the attention of U.S. President Donald Trump, who has repeatedly expressed his desire to reduce Chinese influence around the Panama Canal and termed the deal a "reclaiming" of the waterway after it was first announced. In April, China's top market regulator said it was paying close attention to CK Hutchison's planned sale and that parties to the deal should not try to avoid an antitrust review. Vasquez added that the canal should use the ports deal as an opportunity to become a terminal operator itself by reactivating a project to build a terminal in the Port of Corozal at the Pacific end of the canal, according to the FT.
Yahoo
10-06-2025
- Business
- Yahoo
Panama Canal boss says MSC ports deal threatens neutrality, FT reports
(Reuters) -The sale of two ports near the Panama Canal to a global consortium led by Mediterranean Shipping Company (MSC) threatens the canal's principle of neutrality, the canal's head Ricaurte Vasquez told the Financial Times. "There is a potential risk of capacity concentration if the deal comes the way it is structured as we understand right now,' Vasquez told the FT in a report published on Tuesday. "If there is a significant level of concentration on terminal operators belonging to an integrated or one single shipping company, it will be at the expense of Panama's competitiveness in the market and inconsistent with neutrality." MSC is one of the world's top container shipping groups. MSC and the Panama Canal Authority did not immediately respond to a Reuters request for comment. CK Hutchison confirmed last month that MSC, run by the family of Italian billionaire Gianluigi Aponte, was the main investor in a group seeking to buy 43 ports, including the two ports in Panama, for $22.8 billion. The clarification follows weeks of scrutiny and criticism in China over CK Hutchison's plan to sell the ports to a consortium, which was previously led by U.S. investment firm BlackRock. BlackRock remains part of the group. The proposed sale has also drawn the attention of U.S. President Donald Trump, who has repeatedly expressed his desire to reduce Chinese influence around the Panama Canal and termed the deal a "reclaiming" of the waterway after it was first announced. In April, China's top market regulator said it was paying close attention to CK Hutchison's planned sale and that parties to the deal should not try to avoid an antitrust review. Vasquez added that the canal should use the ports deal as an opportunity to become a terminal operator itself by reactivating a project to build a terminal in the Port of Corozal at the Pacific end of the canal, according to the FT.
Yahoo
22-05-2025
- Business
- Yahoo
CK Hutchison confirms Aponte's MSC is main investor in ports deal
HONG KONG (Reuters) -CK Hutchison confirmed on Thursday that Italian billionaire Gianluigi Aponte's family-run MSC Mediterranean Shipping Company is the main investor in a group seeking to buy 43 ports from the Hong Kong conglomerate. Hutchison co-managing director Dominic Lai was speaking at the company's annual general meeting following weeks of scrutiny and criticism in China of its proposal to sell most of its $22.8 billion global ports business to a consortium led by U.S. investment firm BlackRock. When asked if the Swiss-headquartered MSC shipping empire, which is controlled by the Aponte family, was the major investor, Lai said: "Yes, it has been from the beginning." CK Hutchison has not previously disclosed the exact ownership of each investor in the consortium. MSC did not immediately respond to a request for comment on Lai's remarks. The sale of assets, which would include two ports along the strategically important Panama Canal, has become highly politicised at a time of intensifying U.S.-China trade tensions. In April, China's top market regulator said it was paying close attention to CK Hutchison's planned sale and that parties to the deal should not try to avoid an antitrust review. CK Hutchison, controlled by tycoon Li Ka-shing, said this month that the deal would strictly adhere to all required compliance standards. The proposed sale has also drawn the attention of U.S. President Donald Trump, who has repeatedly expressed his desire to reduce Chinese influence around the Panama Canal and termed the deal a "reclaiming" of the waterway. (Reporting By Jessie Pang and Donny Kwok; Writing by Anne Marie Roantree; Editing by Joe Bavier) Sign in to access your portfolio
Reuters
22-05-2025
- Business
- Reuters
CK Hutchison confirms Aponte's MSC is main investor in ports deal
HONG KONG, May 22 (Reuters) - CK Hutchison ( opens new tab confirmed on Thursday that Italian billionaire Gianluigi Aponte's family-run MSC Mediterranean Shipping Company is the main investor in a group seeking to buy 43 ports from the Hong Kong conglomerate. Hutchison co-managing director Dominic Lai was speaking at the company's annual general meeting following weeks of scrutiny and criticism in China of its proposal to sell most of its $22.8 billion global ports business to a consortium led by U.S. investment firm BlackRock (BLK.N), opens new tab. When asked if the Swiss-headquartered MSC shipping empire, which is controlled by the Aponte family, was the major investor, Lai said: "Yes, it has been from the beginning." CK Hutchison has not previously disclosed the exact ownership of each investor in the consortium. MSC did not immediately respond to a request for comment on Lai's remarks. The sale of assets, which would include two ports along the strategically important Panama Canal, has become highly politicised at a time of intensifying U.S.-China trade tensions. In April, China's top market regulator said it was paying close attention to CK Hutchison's planned sale and that parties to the deal should not try to avoid an antitrust review. CK Hutchison, controlled by tycoon Li Ka-shing, said this month that the deal would strictly adhere to all required compliance standards. The proposed sale has also drawn the attention of U.S. President Donald Trump, who has repeatedly expressed his desire to reduce Chinese influence around the Panama Canal and termed the deal a "reclaiming" of the waterway.
