Aponte Family Leads Bid for Global Ports Empire

The Italian billionaire Gianluigi Aponte's family business is spearheading an acquisition of 43 ports from CK Hutchison. Terminal Investment Ltd will primarily own the ports, except for two in Panama shared with BlackRock Inc. This deal is influenced by the escalating China-U.S. trade tensions.

Italian billionaire Gianluigi Aponte's family-run enterprise is set to become the lead investor in a consortium seeking to acquire 43 ports from CK Hutchison, Bloomberg News reported on Monday.

The Terminal Investment Ltd (TIL), a diverse container terminal operator owned by the Aponte family, will take sole ownership of the ports upon completion, apart from two in Panama which will be jointly held with BlackRock Inc. Notably, BlackRock's Global Infrastructure Partners will hold a majority 51% stake in these Panama Canal-adjacent facilities, according to sources.

The strategic port sales by CK Hutchison have stirred political tensions amid the escalating China-U.S. trade war, with criticisms from China regarding its asset liquidation to BlackRock. Founder Li Ka-shing is poised to gain over $19 billion in cash, taking center stage in a highly scrutinized and politicized trade environment.

(With inputs from agencies.)