BlackRock's $19 Billion Port Deal With Li Ka-shing Sparks China Scrutiny, State Firms Told To Pause New Ties: Report
After CK Hutchison Holdings Ltd. was announced to have sold for a record $19 billion to a consortium led by BlackRock Inc. (NYSE:BLK), China is now scrutinizing Hong Kong tycoon Li Ka-shing‘s global business empire.
What Happened: Beijing has ordered state-owned companies to halt new partnerships with companies associated with Li Ka-shing, according to sources cited by Bloomberg.
Senior officials’ edict, which appeared to be intended to comprehend the scope of the family’s foreign businesses, was released last week and has no bearing on current commercial partnerships.
The port transaction, which includes 43 facilities across 23 countries, has drawn attention following U.S. President Donald Trump‘s characterization of the deal as reclaiming strategic waterways from Chinese influence. Notably, the sale excludes ports in mainland China and Hong Kong, potentially limiting Beijing’s leverage.
CK Hutchison did not immediately respond to Benzinga's request for comment.
Why It Matters: With operations mostly in Europe, North America, and Australia, CK Hutchison only receives 12% of its revenue from Hong Kong and mainland China.
The move comes amid complex geopolitical dynamics, including Panama Canal tensions and infrastructure repositioning. BlackRock Chairman Larry Fink described the acquisition as securing “patient, long-term capital” in global maritime infrastructure.
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Posted-In: Donald Trump Larry Fink Panama CanalAsia Equities News Markets
