A BlackRock-backed bid to acquire global ports, including key assets in the Panama Canal, is at risk of collapsing due to demands from China’s Cosco, according to a Financial Times report.
BlackRock and Mediterranean Shipping Company (MSC) are considering walking away from the deal to purchase the ports from CK Hutchison if Cosco continues to insist on obtaining a majority stake in the transaction.
The Financial Times cited three unnamed people familiar with the negotiations. When approached by the publication, BlackRock declined to comment on the matter.
CK Hutchison, Cosco, MSC, and China’s foreign ministry did not respond to requests for comment from the Financial Times.
The deal involves strategic port assets, including facilities located in the Panama Canal, which is a crucial maritime trade route connecting the Atlantic and Pacific Oceans.
