The ongoing sale of Hutchison Ports’ overseas terminals to a consortium comprising MSC/TIL and BlackRock/GIP continues to evolve.
With the 145-day exclusivity period set to expire by the end of July, the deal faces pushback from China, where authorities remain dissatisfied with the agreement.
Separately, Hutchison Ports plans to divest its two Panamanian terminals Balboa and Cristobal to the same MSC/TIL and BlackRock/GIP consortium. Although BlackRock is expected to hold the majority stake, the Panama Canal Authority has raised concerns over potential capacity concentration in MSC’s hands if the deal proceeds without modification.
MSC already holds a stake in the PSA terminal at Rodman and is jointly developing the new Panama Canal Container Port in Colón with Notarc Management Group.
However, this project has stalled, as the previous developer, China’s Landbridge Group, is contesting the termination of its concession in court after failing to complete the terminal, which is reportedly 40% finished.
