Billionaires
CK Hutchison, BlackRock to Delay Signing Panama Ports Deal
The Port of Balboa in Panama City. The Balboa and Cristobal ports on either side of the 51-mile (82-kilometer) Panama Canal.
Photographer: Walter Hurtado/BloombergThis article is for subscribers only.
Hong Kong billionaire Li Ka-shing is considering delaying the expected signing next week of a controversial deal to sell his Panama Canal ports to a consortium including BlackRock Inc., people with knowledge of the matter said.
Li’s flagship conglomerate CK Hutchison Holdings Ltd. likely won’t be able to sign a definitive agreement on the port sale by the original target of April 2, the people said, asking not to be identified because the information is private. Work on the deal is still progressing, but the companies need more time to complete formalities such as due diligence, according to the people.