CK Hutchison's Strategic Port Sale Stalls

CK Hutchison will not finalize a deal next week to sell its two strategic Panama Canal ports to a BlackRock-led group. The agreement, valued at over $19 billion, was initially set to be signed on April 2. The postponement reportedly doesn't signify the deal's cancellation.

CK Hutchison, the Hong Kong conglomerate led by prominent tycoon Li Ka-shing, has reportedly delayed signing a deal to sell two strategic ports at the Panama Canal. The South China Morning Post reported on Friday that the sale to a group led by BlackRock would not be finalized next week as initially planned.

Sourced information indicated that the arrangement was expected to be formalized on April 2, as announced on March 4. However, sources close to CK Hutchison suggested that the delay does not indicate a cancellation of the deal altogether.

CK Hutchison has been in negotiations to sell the majority of its global ports business, including key assets near the Panama Canal, for over $19 billion. The company did not provide an immediate comment to a Reuters inquiry regarding the status of the deal.

(With inputs from agencies.)