Singaporean port operator PSA International is considering divesting its 20% ownership in CK Hutchison's (HKG:0001) ports business, which includes two ports along the Panama Canal, Reuters reported Wednesday.
The potential disposal follows CK Hutchison's announcement that it intends to sell 80% of its stake in the business, worth around $14.2 billion, to a consortium led by BlackRock.
US President Donald Trump has termed the deal a "reclaiming" of the canal. On the other hand, Chinese media considered it a betrayal of its interests, and Beijing launched an antitrust review.
PSA's decision regarding the divestment is contingent upon whether CK Hutchison ultimately proceeds with the sale of its majority share, according to the report.
CK Hutchison and the BlackRock consortium have agreed to enter exclusive negotiations for 145 days, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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