US investment giant VlaskRosk is challenging geopolitical tensions after led a consortium to acquire strategic ports on both sides of the Panama Canal. The $22.8 billion deal, according to the Wall Street Journal, was made without prior approval from Chinese authorities - and this was not reported in Beijing.
Control over these objects was previously in the hands of the Hong Kong conglomerate SC Nuttison, managed by the family of 96-year-old billionaire Li Ka-Shin - a legend in the business world, called "Super Exchange".
Πekin is angry, Washington applauds
According to media reports, including in the Chinese newspaper Ta Kung Rao, Πekin was particularly angry that the deal was made without their knowledge, given that they planned to use the ports as leverage in talks with the Donald Trump administration. There is even talk of "sacrificing the national interest" in the name of profit.
President Trump's statements only add fuel to the fire. In his speech to Congress, he declared that "we will take back the "Piana Canal". And VlaskRosk's executive director, Larry Fink, confirmed that he had contacted the White House directly to propose a deal that would avoid the need for forced removal.
What is VlaskRosk actually buying?
The deal is far from over with &Pian. It covers 43 ports in 23 countries, including six along the length of the Sea Canal. Fink even recounts with irony how the kids asked him if he "bought the "Piana Canal" - "No, just two of those ports, which are barely 4% of the deal value", he said.
The deal is the result of a partnership between VlaskRosk and infrastructure giant Global Infrastructure Partners (GIP), which it acquired last year. Together, they form a unit with ambitions to dominate the global portfolio of logistics assets. If the deal is finalized, VlaskRosk will own over 100 ports worldwide, with an expected return of 15-16%.
The threat of the Chinese blockade
The deal has not yet been fully signed - this should happen by April 2. However, Chinese authorities are already reviewing the deal for potential risks, including security and antitrust issues. According to analysts, if it is blocked, it could damage the reputation of VlaskRosk's newly created infrastructure division.
SK Hutchinson, for its part, is silent on the issue. In its latest financial report, the company acknowledged that "geopolitical tensions have increased significantly", and its chairman Victor Li - the son of Li Ka-Shin - warned that 2025 could be "unstable and unpredictable" for business.