CK Hutchison says Panama Canal asset sale requires multi-nation regulatory approval
Nazrin Abdul
Read moreCK Hutchison Holdings Ltd. announced on Thursday that its proposed sale of Panama Canal assets will hinge on securing regulatory clearance from multiple global authorities, including those in China, the United States, the United Kingdom, and the European Union.
Speaking during a conference call on its interim financial results, the company stated that regulatory changes would be necessary to move forward with the deal, adding that it is prepared to take as much time as needed to navigate the approval process, Azernews reports.
The Hong Kong-based conglomerate is seeking to divest its canal assets to a consortium of investors led by BlackRock Inc. in a deal valued at $22.8 billion.
However, the transaction may face geopolitical hurdles. Reports suggest that Beijing has threatened to veto the sale unless a Chinese firm — likely the state-owned Cosco — is granted a stake in the deal.
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