The deal comes after U.S. President Donald Trump repeatedly threatened to take control of the Panama Canal and end what he sees as China’s influence over the waterway critical to global trade.

Li Ka-shing’s CK Hutchison Holdings Ltd. has hired law firm Paul Hastings LLP to work on the blockbuster sale of its ports business, a major win for an adviser that rarely cracks the top of M&A league tables,

AFTER a lifetime of dealmaking, 96-year-old Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet. Read more at The Business Times.

CKH HOLDINGS (00001.HK) announced on Tuesday (4th) that it reached an agreement with BlackRock-TiL consortium to sell its 80% stake in Hutchison Port Holdings (HPHS), and the deal is expected to bring cash proceeds of more than US$19 billion to CKH HOLDINGS.

CK Hutchison Holdings Ltd., the Hong Kong-based conglomerate, agreed to sell control of a unit that operates ports near the Panama Canal after pressure from US President Donald Trump to limit Chinese interests in the region.

A consortium led by BlackRock has bought two ports on either side of the Panama Canal just a few weeks after President Trump threatened to use force to restore U.S. control over the energy chokepoint.

BEIJING -- CK Hutchison, the Hong Kong-based conglomerate owned by tycoon Li Ka-shing's family, has agreed to sell port assets including those at the Panama Canal, where U.S. President Donald Trump objected to what he described as Chinese control.

The trade war is already sending merger troops to the front line. BlackRock shook hands on a deal to buy ports along the Panama Canal and beyond from CK Hutchison for $23 billion. It helps boss Larry Fink shore up his infrastructure strategy and provides the Hong Kong-based conglomerate a useful escape from political crosshairs.

After a lifetime of dealmaking, 96-year-old Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet.

(Bloomberg) -- After a lifetime of dealmaking, 96-year-old Hong Kong billionaire Li Ka-shing may have just pulled ... business to a consortium led by BlackRock Inc. In return, the Hong Kong ...