CK Hutchison Holdings’ decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move, analysts and sources have said, as they urged Hong Kong’s other major companies to also prepare for unparalleled uncertainties. The company founded…
CK Hutchison Holdings’ decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move, analysts and sources have said, as they urged Hong Kong’s other major companies to also prepare for unparalleled uncertainties. The company founded…
(Reuters) – CK Hutchison stock gained more than 22% on Wednesday after the Hong Kong conglomerate sold a majority stake in a $22.8 billion ports unit, including assets along the Panama Canal, to a group led by U.S. buyout firm BlackRock. The sale includes 90% of Panama Ports Company, which has operated the Balboa and…