The Aponte Family’s TIL in Talks to Acquire CK Hutchison’s Global Container Terminals

The Aponte family-owned ports operator Terminal Investment Limited (TIL) is currently in negotiations to acquire the majority of CK Hutchison’s global container terminal portfolio. This comes after a deal led by BlackRock faced challenges in Beijing. Reports suggest that under the restructured proposal, BlackRock would retain a 51 percent stake in Hutchison’s two terminals in Panama, while TIL would take over the remaining 41 sites worldwide.

If finalized, the transaction is estimated to cost TIL approximately $23 billion, with $19 billion to be paid in cash. However, the details of the deal remain fluid, with conflicting reports emerging. In an interview with Italy’s ShipNews, Diego Aponte, a top executive of the Aponte family, outlined a different agreement that would involve a three-way global split of ownership between MSC, Blackrock, and CK Hutchison.

Despite the uncertainty surrounding the deal’s structure, it is poised to be one of the most significant transactions in the shipping industry in recent history, pending approval from Chinese authorities.

The negotiations have faced backlash from Chinese state-linked media, criticizing CK Hutchison for considering a deal with an American company as unpatriotic. Beijing’s opposition to the sale stems from concerns over Chinese security interests. The Chinese government has reportedly threatened repercussions against CK Hutchison’s family owners, who have substantial business ties in mainland China.

On the diplomatic front, BlackRock’s bid has received support from the White House, with President Donald Trump expressing concerns over Chinese influence in the Panama Canal. While progress has been made in diplomatic talks, a local hurdle has emerged in Panama, where an audit alleges irregularities in CK Hutchison’s lease renewal and underpayment of fees to the government.

By divesting the majority of its ports to TIL, CK Hutchison aims to circumvent delays caused by the Panamanian audit. However, Chinese approval of TIL as the buyer remains uncertain, with experts suggesting Beijing’s opposition to Western countries acquiring control of strategic assets.

In a statement to ShipNews, Diego Aponte expressed confidence in the deal’s eventual success, stating, “I am calm. There are discussions underway, but I believe that in a short time everything will be clarified with the various parties involved, including the Chinese, to mutual satisfaction.”