The sale of overseas ports by CK Hutchison has sparked a political storm. It was recently reported that the deal will be split into two separate transactions to continue. On the 27th, China's State Administration for Market Regulation emphasized that all parties involved in CK Hutchison's port transaction "must not take any measures to avoid anti-monopoly reviews," otherwise they will bear legal responsibility. The picture shows a cargo ship passing through the Panama Canal (Reuters).
The global sale of 43 ports by CK Hutchison, under Hong Kong billionaire Li Ka-shing's Cheung Kong Holdings Limited, has triggered a political controversy. It was previously reported that the main buyer in this transaction, the Italian billionaire Aponte family, plans to split out the two most controversial ports at the Panama Canal for separate transactions. On the 27th, the State Administration for Market Regulation responded, emphasizing that all parties involved in CK Hutchison's port transaction "must not take any measures to avoid anti-monopoly reviews," otherwise they will bear legal responsibility.
On the 27th, the State Administration for Market Regulation once again responded to questions from journalists regarding the CK Hutchison port transaction case.
According to a report by The Wall Street Journal on April 16, the sale of overseas ports by CK Hutchison will be split into two separate transactions to continue. A reporter from The Interface News reported that the spokesperson for the State Administration for Market Regulation responded, "We are highly concerned about this transaction," and it will be reviewed according to law. "All parties involved must not take any measures to avoid review, and the transaction must not be implemented before approval is obtained; otherwise, legal responsibility will be borne."
Previously, on March 28, China's State Administration for Market Regulation announced an anti-monopoly investigation into the CK Hutchison port transaction case to protect fair market competition and safeguard public interests. This led to CK Hutchison postponing its original plan to sign a port transfer agreement with a consortium led by BlackRock Group on April 2.
According to comprehensive reports from Bloomberg, The Wall Street Journal, and other foreign media in mid-April, in this CK Hutchison port transaction case, Terminal Investment Ltd (TiL), a port operator controlled by Mediterranean Shipping Company (MSC) under the Aponte family in Italy, is the main buyer. They are discussing the剥离of two controversial Panama ports and advancing the transaction of the remaining 41 ports.
If the transaction is successful, the Aponte family will have full ownership of all ports outside those at the Panama Canal. As for the two Panama ports, a consortium led by BlackRock will hold 51% of the business, while TiL will hold the remaining 49%.
In this transaction, the buyer has a 145-day exclusive negotiation period. According to sources cited by The Wall Street Journal, related discussions are proceeding on dual tracks, and the剥离of the Panama ports will ultimately require a new agreement.
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