An investor group led by BlackRock will acquire two ports near the Panama Canal that are owned by CK Hutchison and have been the subject of a dispute between President Trump and Panama.
An investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in Panama that are owned by a Hong Kong company and that have become the subject of tensions between Panama and the Trump administration.
BlackRock will buy the ports, which sit at either end of the Panama Canal, and over 40 others from the Hong Kong conglomerate CK Hutchison for about $19 billion.
American politicians have raised the possibility that the Chinese government might influence the operation of the canal through CK Hutchison. Without offering any evidence, President Trump has said China runs the canal. He has frequently said that he wants the United States to retake control of the waterway, which it ceded to Panama in 2000.
This is a developing story. Check back for updates.