Hong Kong conglomerate seeks $1.5 billion in damages from Panama for takeover of canal ports
But CK Hutchison’s subsidiary Panama Ports Company had run the two ports on the canal from 1997 and had renewed its concession for 25 years in 2021.
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Summary
CK Hutchison, controlled by the family of Hong Kong’s richest man Li Ka-shing, last year announced an initial $23 billion deal to sell its global ports business, including the two Panama ports, to a consortium involving U.S. investment firm BlackRock. Panama’s government in February seized the Balboa and Cristobal ports, located on each end of the Panama Canal, after its Supreme Court that a concession held by CK Hutchison’s subsidiary to run the two ports was unconstitutional. HONG KONG: Hong Kong conglomerate CK Hutchison said on Thursday it has filed international arbitration proceedings against Panama over its cancellation of a concession to operate two ports in the Panama Canal.
Furthermore, CK Hutchison seeks over US$1.5 billion from Panama over port takeover.
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CK Hutchison, controlled by the family of Hong Kong’s richest man Li Ka-shing, last year announced an initial $23 billion deal to sell its global ports business, including the two Panama ports, to a consortium involving U.S. investment firm BlackRock.
according to The IndependentPanama’s government in February seized the Balboa and Cristobal ports, located on each end of the Panama Canal, after its Supreme Court that a concession held by CK Hutchison’s subsidiary to run the two ports was unconstitutional.
according to The IndependentHONG KONG: Hong Kong conglomerate CK Hutchison said on Thursday it has filed international arbitration proceedings against Panama over its cancellation of a concession to operate two ports in the Panama Canal
according to New Straits TimesCK Hutchison seeks over US$1.5 billion from Panama over port takeover.
according to New Straits Times
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