BlackRock’s Panama Canal Bid Faces New Complexity with Potential Chinese Partner

BlackRock's $22.8 billion Panama Canal port deal negotiations have taken a dramatic turn as CK Hutchison considers adding a significant Chinese investor to the consortium. The exclusivity period for the deal expired on Sunday, opening the door for new participants in this high-stakes transaction involving critical Panama Canal assets.

China's state-owned Cosco Shipping has emerged as a potential stakeholder, coinciding with Beijing's antitrust review of the deal ahead of an April deadline. The involvement of Chinese interests adds geopolitical weight to what was already one of the most consequential infrastructure deals in recent memory.

The transaction structure reveals a bifurcated approach: one component transfers CK Hutchison's 90% stake in Panama Ports Company, which controls strategic Balboa and Cristóbal ports on either end of the canal. The second piece involves 80% of operations at four additional terminals, creating a complex web of maritime logistics and international finance.