CK Hutchinson is negotiating with an unspecified Chinese company—allegedly COSCO—to take a stake in its Blackrock ports deal.
HONG KONG, July 28 (Reuters) - CK Hutchison said on Monday it was in talks with a consortium pursuing its $22.8 billion ports business to add a Chinese "major strategic investor" to the bid, after Beijing flagged a probe into the deal amid heightened Sino-U.S. tension. The Hong Kong-based conglomerate made the comment the day after exclusive talks ended with the consortium, led by U.S. investment firm BlackRock and Italian billionaire Gianluigi Aponte's family-run shipping company MSC.
The parties in March agreed a preliminary deal for 43 ports in 23 countries, including two ports along the strategically important Panama Canal. Ports operator China COSCO Shipping Corp is looking to join the consortium, a person with knowledge of the matter .