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BlackRock, MSC May Abandon CKH's Port Deal, if COSCO Shipping Insists on Majority Stake: Wire
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The deal for BlackRock and Mediterranean Shipping Company (MSC) to acquire CKH HOLDINGS (00001.HK)'s port business is facing a breakdown. If COSCO Shipping insists on obtaining a majority stake after joining the consortium, BlackRock and MSC may consider abandoning the deal, Financial Times reported, quoting people familiar with the matter. In March, CKH had announced it would sell 43 ports across 23 countries to the consortium, including two ports on the Panama Canal. The deal won support from US President Donald Trump but drew dissatisfaction from China. Subsequently, COSCO Shipping was invited to join the consortium to help secure approval from Chinese regulators. COSCO Shipping is reportedly demanding a majority stake in the consortium. Negotiations are still ongoing, and any final agreement will be contingent on the improvement of Sino-US relations. AASTOCKS Financial News Website: www.aastocks.com |
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