The global media has been full of reports about the displeasure being expressed by Chinese officials over CK Hutchison’s pact to sell its controlling stake in Panama Canal ports to a group led by U.S. asset manager BlackRock.
With our headquarters in Hong Kong, comprehensive network in China, and portfolio of international container shipping services for both LCL and FCL import and export cargoes, the articles make interesting reading for the U-Freight Group.
Under the agreement, CK Hutchison will sell 43 ports in 23 countries, while keeping facilities in mainland China and Hong Kong. The transaction is set to generate cash proceeds of more than USD19 billion.
Two good articles about the issue can be read here:
https://gcaptain.com/china-ramps-up-criticism-of-blackrock-ports-deal/?subscriber=true&goal=0_f50174ef03-93fa79c512-139916333&mc_cid=93fa79c512&mc_eid=ddba757d70
https://breakbulk.news/china-warns-ck-hutchison-over-panama-ports-sale-amid-u-s-pressure/
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