More Legal Landmines For CK Hutchison–BlackRock Panama Port Deal [zero hedge]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: zero hedge
More Legal Landmines For CK Hutchison–BlackRock Panama Port Deal The future of CK Hutchison's deal to sell two Panama ports—the Balboa and Cristóbal terminals—to a BlackRock -led consortium is in dire straits after Panama's top auditor revealed widespread contractual breaches and claimed the port operator owes the country hundreds of millions of dollars , reported Bloomberg . This comes shortly after Beijing launched an antitrust probe into the deal while trade war tensions between Washington and China intensified. At its core, the port sale revolves around President Trump's push to secure hemispheric defense by terminating Chinese control from critical parts of the canal. On Monday, Panama's Comptroller General, Anel Flores, told reporters that CK Hutchison's Panama Ports Company's (PPC) 2021 renewal of a 25-year port concession was plagued with procedural breaches. Flores said PPC used tax breaks to evade $850 million in taxes out of the $1.3 billion owed over the first 25 years of
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News
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- MSC, BlackRock's bid for Hutchison's Barcelona terminal may push up prices, EU says [Yahoo! Finance]Yahoo! Finance
- A Fresh Look at CK Hutchison Holdings (SEHK:1) Valuation Following Recent Shareholder Returns [Yahoo! Finance]Yahoo! Finance