Li Ka-shing keeps $28.9b ask for ports despite Panama loss
Talks on the deal are still ongoing and final details, including prices, could still change.
Hong Kong business tycoon Li Ka-shing's CK Hutchison Holdings aims to sell its remaining global ports for the original US$22.8 billion value, despite losing two Panama terminals, according to sources familiar with the matter. The deal, expected to generate over US$19 billion in cash, was first announced in March 2025 and remains unchanged even after excluding the Panama facilities.
The talks are ongoing, with final details potentially changing due to the deal's complexity. The Panama ports faced closure in 2026 after the country invalidated CK Hutchison's contract, prompting the company to initiate arbitration claims for at least US$3.5 billion in damages. The loss of these ports accounted for only about 4% of the portfolio's original price, and the remaining 41 ports are anticipated to have increased in value enough to offset their absence.
The sale has become a focal point in the US-China rivalry, with tensions particularly heightened concerning the Panama terminals. As Chinese leader Xi Jinping plans to meet US President Donald Trump during his September visit to the US, hopes for a political breakthrough have resurfaced, though both sides remain cautious due to past failed high-level meetings.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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