At 96 years old, Hong Kong billionaire Li Ka-shing has executed one of his most ambitious deals to date. Facing pressure from the Trump administration over CK Hutchison Holdings Ltd.’s control of two ports at the Panama Canal, the company announced a plan to sell the majority of its global ports business to a consortium led by BlackRock Inc. In return, CK Hutchison will receive cash proceeds exceeding $19 billion. This strategic move highlights Li’s ability to navigate complex geopolitical challenges while securing significant financial returns.
— news from Bloomberg