Hong Kong billionaire to sell Panama Canal ports to US firm

Hong Kong -based company has agreed to sell most of its share in a major port on Panama channel to a group led by the American investment company Blackrock.

The sale comes after weeks of complaint by President Donald Trump that the channel is under the control of Chinese and that the United States should control the main shipping path.

Through a subsidiary, CK HUTCISON HOLDING runs ports in the Atlantic and Pacific Ocean of the channel.

He said on Tuesday that she would sell her interests as part of a $ 22.8 billion deal (17.8 billion pounds).

CK Hutchison, Founded by Hong Kong billionaire Lee Ka ShengThe Chinese government does not have. But its base in Hong Kong means that it operates under Chinese financial laws. The outlets have worked since 1997.

The deal includes a total of 43 outlets in 23 countries worldwide, including the two canal stations. It will require the approval of the Panamanian government.

The Panama channel reduces 51 miles (82 km) across the Central America and is the main relationship between the Atlantic and Pacific Ocean.

Up to 14,000 ships traveling through them every year, including container ships carrying cars, natural gas and other goods and military vessels.

It was built in the early twentieth century. The United States has maintained control of the canal area until 1977, when treaties gradually abdicated the Earth to Panama.

After a period of control of the joint, Panama took over in 1999.

Trump presented several arguments to regain control of the channel and the surrounding area. He said that the Chinese influence represents a threat to national security, that the American investment in the initial building of the channel justifies the restoration of control, and that American ships are too loaded to use the waterway.

On a visit to Panama in February, US Secretary of State Marco Rubio called for the country to make “immediate changes” to what he calls “the influence and control of China on the channel.

Panama rejected the claims of the United States government, and President Jose Raul Mulino said that the channel “is and will remain” in the hands of the Central American country.

“I would like to confirm that the transaction is purely commercial with its nature and has nothing to do with the recent political news reports related to Panama’s ports,” said Frank Sixth, co -director of CK Hutchison:

Blackrock is one of the largest asset management companies in the world. The group that also buys ports also includes Terminal Investment Limited, a Swiss company.