Explainer-What we know in Panama court ruling as CK Hutchison launches arbitration [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
HONG KONG, Feb 4 (Reuters) - Hong Kong's CK Hutchison said on Wednesday its Panama Ports Company unit has started international arbitration proceedings against Panama after a court there annulled its licences to operate two Panama Canal ports. Panama's Supreme Court annulled last week ?CK Hutchison's contract to operate two Panama Canal ports at the heart of a $23-billion deal to sell the Hong Kong conglomerate's global port assets. The contract held ?by Panama Ports Company (PPC), a CK Hutchison subsidiary, violated Panama's constitution by giving the company exclusive privileges and tax exemptions, the court said. It is unclear how long the arbitration proceedings could take, although given the political sensitivities ?and complexity of the deal, it could drag on for years, some analysts said. WHAT WE KNOW: CK Hutchison, controlled by Hong Kong's richest man Li Ka-shing, announced a sale in March 2025 covering 43 ports in 23 countries, including two near the Panama Canal,
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News
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- The US wants to push China out of Latin America. The Panama Canal is the latest test [CNN]CNN
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