Latest news with #TiL
Yahoo
14-04-2025
- Business
- Yahoo
Italian Billionaire Just Outplayed BlackRock in a $19 Billion Global Port Grab
Italian shipping mogul Gianluigi Aponte just pulled off one of the most consequential infrastructure deals of the decade. His family-owned Terminal Investment Ltd. (TiL) is taking over 41 of the 43 ports being sold by Li Ka-shing's CK Hutchison Holdings (CKHUF) in a $19 billion transaction that's making waves far beyond the docks. While the deal was originally framed as a TiL-BlackRock (NYSE:BLK) consortium, it's now clear TiL will walk away with the lion's shareleaving BlackRock with just a 51% stake in two ports along the Panama Canal. TiL holds the remaining 49%. That Panama carve-out represents just 4% of the deal's value but sits at the heart of global trade lanes, which explains the geopolitical heat. Warning! GuruFocus has detected 3 Warning Signs with CKHUF. This isn't just another port saleit's a chess match. Beijing has pushed back hard, given the U.S. involvement and the Canal's strategic importance. Panama's government isn't thrilled either, accusing CK Hutchison of improprieties (which the company has denied). Still, the buyers have promised to leave current operating models intact and keep the ports open to all shipperslikely a preemptive move to avoid regulatory drama. Notably, CK Hutchison is holding onto its Hong Kong and mainland China ports, which contribute about 12% to its revenue. Shares of CK Hutchison jumped nearly 4% in Hong Kong after the announcement. Behind the scenes, this is a classic Aponte power play. MSC, already the world's largest container line, will now control even more of the maritime chessboard through TiL's expanded reach across 31 countries. And while BlackRock may still be involved via its infrastructure arm, it's Aponte who now calls the shots. The deal also underscores a quiet but growing shift: family-owned industrial giants are increasingly outmaneuvering institutional investors in global asset grabs. The original April 2 deadline for closing the Panama portion was missed, but sources say the deal should still wrap by year-end. If it does, it'll mark one of the most strategically important port handovers of the decadeand a major win for European shipping muscle over Wall Street capital. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
Italian Billionaire Just Outplayed BlackRock in a $19 Billion Global Port Grab
Italian shipping mogul Gianluigi Aponte just pulled off one of the most consequential infrastructure deals of the decade. His family-owned Terminal Investment Ltd. (TiL) is taking over 41 of the 43 ports being sold by Li Ka-shing's CK Hutchison Holdings (CKHUF) in a $19 billion transaction that's making waves far beyond the docks. While the deal was originally framed as a TiL-BlackRock (NYSE:BLK) consortium, it's now clear TiL will walk away with the lion's shareleaving BlackRock with just a 51% stake in two ports along the Panama Canal. TiL holds the remaining 49%. That Panama carve-out represents just 4% of the deal's value but sits at the heart of global trade lanes, which explains the geopolitical heat. Warning! GuruFocus has detected 3 Warning Signs with CKHUF. This isn't just another port saleit's a chess match. Beijing has pushed back hard, given the U.S. involvement and the Canal's strategic importance. Panama's government isn't thrilled either, accusing CK Hutchison of improprieties (which the company has denied). Still, the buyers have promised to leave current operating models intact and keep the ports open to all shipperslikely a preemptive move to avoid regulatory drama. Notably, CK Hutchison is holding onto its Hong Kong and mainland China ports, which contribute about 12% to its revenue. Shares of CK Hutchison jumped nearly 4% in Hong Kong after the announcement. Behind the scenes, this is a classic Aponte power play. MSC, already the world's largest container line, will now control even more of the maritime chessboard through TiL's expanded reach across 31 countries. And while BlackRock may still be involved via its infrastructure arm, it's Aponte who now calls the shots. The deal also underscores a quiet but growing shift: family-owned industrial giants are increasingly outmaneuvering institutional investors in global asset grabs. The original April 2 deadline for closing the Panama portion was missed, but sources say the deal should still wrap by year-end. If it does, it'll mark one of the most strategically important port handovers of the decadeand a major win for European shipping muscle over Wall Street capital. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
14-04-2025
- Business
- Bloomberg
Italy's Secretive Shipping Tycoon Has Been Thrust Into Spotlight With New Port Deal
Gianluigi Aponte, the secretive Italian billionaire who founded MSC Mediterranean Shipping Co SA, has emerged as a powerful broker in a $19 billion port deal with Hong Kong tycoon Li Ka-shing. Aponte and his family-controlled Terminal Investment Ltd., known as TiL, are the main investors in a consortium that has proposed a $19 billion accord to buy 43 ports from Li's CK Hutchison Holdings, people familiar with the matter have said.
Bloomberg
14-04-2025
- Business
- Bloomberg
Italian Tycoon Eclipses BlackRock in Li Ka-shing's Port Deal
Italian billionaire Gianluigi Aponte's family-run business is emerging as the lead investor of a group seeking to buy 43 ports from Hong Kong tycoon Li Ka-shing, people familiar with the matter said, a deal that's been fiercely opposed by China over US involvement. The Aponte family's Geneva-based Terminal Investment Ltd., known as TiL, will be the sole owner of all the ports after the deal is completed except for two in Panama that would be controlled by BlackRock Inc., the people said, asking not to be identified discussing previously unreported details of the deal's structure.
Observer
09-03-2025
- Business
- Observer
BlackRock makes Oman foray with indirect stake acquisition in Hutchison Ports
MUSCAT, MARCH 9 Global asset manager BlackRock is set to make its debut in the Sultanate of Oman with the indirect acquisition of a major stake in Hutchison Ports Sohar, the owner and operator of Sohar Port's container terminal. It follows last week's announcement by the consortium of BlackRock and Terminal Investment Limited (TiL), a subsidiary of Mediterranean Shipping Company (MSC), that it has reached in-principle agreements to acquire an 80 per cent controlling interest in Hong Kong based global multinational conglomerate CK Hutchison. Hutchison Ports Holdings (HPH), a global operator of ports and terminals (including Hutchison Ports Sohar), is a subsidiary of CK Hutchison. Under the provisional agreements, the BlackRock — TiL consortium will acquire 80 per cent of CK Hutchison's interests in a vast portfolio of subsidiary and associated companies owning, operating and developing a total of 43 ports comprising 199 berths in 23 countries. Included in this list is Hutchison Ports Sohar (previously known as Oman International Container Terminal — OICT). Collectively dubbed the 'HPH Ports Sale Perimeter' transaction, the aggregate enterprise value of this global deal (which includes Panama Ports in Panama) has been agreed at $22.8 billion. The parties have set an April 2, 2025 deadline for the formalisation of the transaction, pending regulatory approvals where applicable. Significantly, Terminal Investment Limited (TiL) is the world's 6th largest global container terminals group, with a portfolio of terminals located on the key trades served by the world's largest shipping line, the Mediterranean Shipping Company (MSC). TiL is part of the portfolio of Global Investment Partners (GIP), a leading global infrastructure investor with around $170 billion in assets under management. These assets are distribution across the energy, transport, digital infrastructure, decarbonisation, and water and waste management sectors. Just last October, GIP was formally acquired by BlackRock. Summing up the beneficial implications of these transactions for maritime assets served by TiL and MSC, GIP Chairman and Chief Executive Officer Bayo Ogunlesi said: 'We are delighted to partner with Terminal Investment Limited and MSC, with whom we have a longstanding and productive relationship, to make an offer for certain interests in ports owned and operated by Hutchison Ports Holdings. Given GIP's substantial expertise in owning and operating ports, together with our partners, we can focus on our joint ambition for these assets to continue to be world-class ports operators which are competitive, efficient, commercial and service-focused.' While specific details about BlackRock's direct or indirect investments in Oman are not publicly disclosed, the American investment giant has been actively expanding its presence in the Gulf region. Last June, BlackRock appointed Mohammad al Fahim as Managing Director and Head of the UAE, Oman and Bahrain, aiming to strengthen client relationships and deliver diversified investment solutions across these countries. Hutchison Ports Sohar is a joint venture between Hutchison Ports, Rakiza (Oman Infrastructure Investment Management — part of Oman Investment Authority) and other Omani investors.
