U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison, including assets it holds along the Panama Canal.

A deal struck by BlackRock to take control of two key ports on either end of the Panama Canal essentially aligns the world's largest money manager with preferences of the new Trump administration.

Hong Kong-based conglomerate CK Hutchison Holdings Ltd. (CKHUY) (CKHUF) agreed to sell its 90% stake in a unit overseeing ports in Panama to a consortium led by asset management titan BlackRock (BLK)

Hong Kong's CK Hutchison on Tuesday agreed to sell its interests in a key Panama Canal port operator to a BlackRock Inc.-backed consortium, following intense pressure from U.S. President Donald

President Donald Trump cited BlackRock's Tuesday deal to acquire Panama Canal ports as part of his administration's broader effort to "reclaim" the crucial waterway.

Panama Canal, following pressure from U.S. President Donald Trump to reduce Chinese influence in the region. The deal involves the sale of 90% of Panama Ports Co., the company responsible for managing the Balboa and Cristobal entries,

BlackRock Inc. led one of the biggest acquisitions of the year in a deal that marked both the firm’s expanded reach in infrastructure and a win for US President Donald Trump, who had raised concerns over control of key ports near the Panama Canal.

A Hong Kong-based conglomerate has agreed to sell its stake in two Panama Canal ports to U.S. and Swiss investors, following pressure from the Trump administration over concerns about Chinese influence.

The $23 billion deal, announced by Hong Kong-based CK Hutchison Holdings, transfers control of the Balboa and Cristobal ports to a consortium led by BlackRock, Global Infrastructu