AsianFin -- CK Hutchison Holdings Limited, the conglomerate controlled by Hong Kong tycoon Li Ka-shing, on Monday night issued a statement addressing the intense scrutiny surrounding its proposed sale of global port assets.
In the statement, CK Hutchison emphasized that the transaction would "absolutely not proceed under any illegal or noncompliant circumstances." The company had originally planned to present full details of the port sale at its Annual General Meeting on May 22. However, due to growing media attention and shareholder inquiries, it chose to clarify its position in advance.
The company reiterated that the transaction is subject to multiple conditions, including regulatory and legal approvals, shareholder consent, and the absence of any violations of law—criteria clearly outlined in its announcement on March 4, 2025.
The proposed deal involves the sale of CK Hutchison's global port operations spanning 43 ports and 199 berths across 23 countries in Asia, Europe, and the Americas. A focal point of the transaction is a 90% stake in the Panama Ports Company, which operates the Balboa and Cristóbal ports located at either end of the Panama Canal. If the deal goes through, control of these strategic terminals would pass to a consortium led by U.S. asset management giant BlackRock—a detail that has fueled geopolitical concerns and heightened public interest.
On March 4, CK Hutchison announced that it had reached a preliminary agreement with the BlackRock-led group to divest its core global port assets. The news immediately sparked a backlash, given the strategic importance of the assets in question. Critics raised concerns about national security, sovereignty, and the balance of global trade.
In response to the public outcry, China's State Administration for Market Regulation (SAMR) initiated an antitrust review on March 28, putting the transaction temporarily on hold. Then on May 6, China’s Ministry of Foreign Affairs weighed in, declaring that Beijing would “safeguard national sovereignty and market fairness in accordance with the law,” and firmly oppose any commercial deal that undermines national interests.
