CK Hutchison, a conglomerate based in Hong Kong, made headlines this month as it agreed to sell a significant portion of its global ports business, valued at $22.8 billion, to a consortium led by BlackRock. This deal includes assets located near the strategically vital Panama Canal, an area that has garnered increased attention given U.S. President Trump’s statements about reducing Chinese influence over it.
The transaction has sparked controversy, with reports that Beijing is dissatisfied and scrutinizing it due to national security and antitrust concerns. Founded by billionaire Li Ka-shing, CK Hutchison’s roots trace back to 1950 when Li established Cheung Kong Industries.
In 1988, he acquired a controlling stake in Hutchison Whampoa, a company that had evolved from a small dispensary in Guangzhou founded in 1828 to a major dock operator. In 2015, Li consolidated his companies into CK Hutchison, now a prominent player in various sectors with a global presence.
Employing over 300,000 people across more than 50 countries, CK Hutchison’s diverse portfolio spans telecommunications, infrastructure, retail, and ports. As of June last year, nearly half of its operating earnings were generated from telecoms, mostly outside mainland China.
In telecommunications, CK Hutchison’s group is most profitable, generating a quarter of its operating profits in 2024. Operations in Europe are led by its CK Hutchison Group Telecom unit, while notable brands in Asia include Hutch in Sri Lanka and Vietnamobile in Vietnam.
Infrastructure, managed by CK Infrastructure, is another vital segment, contributing nearly a quarter of the company’s operating profits in 2024. The group is the largest foreign investor in Australia’s infrastructure, focusing on energy and transport projects.
CK Hutchison’s maritime business operates 53 ports globally, emphasizing the geopolitical sensitivities entwined with trade infrastructure. If the deal with BlackRock proceeds, it will control 43 ports while CK Hutchison retains stakes in major container ports.
Lastly, the conglomerate has a robust retail arm, AS Watson, which operates around 17,000 stores internationally, alongside a finance and investment division that complements its core operations.