Hong Kong billionaire to sell Panama -party American firm

The company based in Hong Kong agreed to sell most of its share in two key ports on the Panama Channel in a group led by the US investment firm BlackRock.

The sale comes after the weeks of complaint by President Donald Trump that the channel is under Chinese control and that the US should take control of the main shipping route.

Through a subsidiary, CK Hutchison Holding works in the Atlantic Ocean and the Pacific porches to the channel.

It stated on Tuesday that it would sell its interests in the amount of $ 22.8 billion (£ 17.8 billion).

Ck hutchison, Founded by Gan – I will be near youDoesn’t belong to the Chinese government. But its base in Hong Kong means that it acts within the framework of Chinese financial law. He has been in charge since 1997.

The transaction includes 43 servings in 23 countries, including two channel terminals. This will require the approval of the Panaman government.

Panama-channel in 51 miles (82 km) intersecting across the country of Central America and is the main connection between the Atlantic and the Pacific.

Up to 14,000 ships travel each year, including container ships that transport machines, natural gas and other goods, and military ships.

It was built in the early 1900s. The United States supported the control of the channel until 1977, when the treaties gradually lagged the land back in Panama.

After the period of joint control, Panama took a single control in 1999.

Trump told several arguments to restore control over the channel and the surrounding area. He claimed that China’s influence is a threat to national security, that the US investment in the initial construction of the channel is justified by the refund control, and that American ships are charged too much for using the waterway.

On a visit to Panama in February, US Secretary of State Mark Rubio demanded that the country make “immediate changes” in what it calls “influence and control” China over the channel.

Panama dismissed the US government’s claims, and President Jose Raul said that the channel “is and will remain” in the hands of Central America.

In a statement announced by a business deal, Frank Sheit, who manages the director of CK Hutchison, said: “I would like to emphasize that the transaction is purely commercial and is completely unrelated to recent political messages concerning Panama ports.”

BlackRock is one of the world’s largest asset management companies. A group that buys ports also includes a Swiss Terminal Investment Limited.