CK Hutchison Holdings, a company headquartered in the Hong Kong Special Administrative Region, is contemplating a revised approach to divesting its extensive global port assets. Sources familiar with the discussions revealed that the company intends to break the transaction into smaller segments, each with distinctive ownership structures, instead of proceeding with the sale as one consolidated deal.
The original plan, announced last year, involved the sale of 43 ports spanning 23 countries to a consortium spearheaded by investment giant BlackRock and MSC, a shipping enterprise controlled by Italian billionaire Gianluigi Aponte's family. The assets included two strategically significant ports located near the Panama Canal.
This initiative has drawn intense scrutiny and criticism from Beijing. In response, the modified proposal reportedly allows China’s state-owned enterprise, COSCO Shipping Corp, to acquire larger stakes in ports situated in regions viewed as geopolitically aligned with Chinese interests, such as the African continent.
Meanwhile, other consortium members, notably Aponte’s Terminal Investment and BlackRock, would assume greater control over ports elsewhere, balancing the influence among stakeholders. This reallocation aims to accommodate China's strategic imperatives while proceeding with the sale.
Discussions remain at an early stage with critical elements still subject to negotiation. It has been indicated that Beijing has conveyed acceptability of such a structure to COSCO Shipping, marking a potential compromise, but no definitive agreement has yet been reached.
Attempts to obtain immediate comment from CK Hutchison on these developments were unsuccessful.