HONG KONG -- Shares of Hong Kong conglomerate CK Hutchison soared more than 20% on Tuesday after the group struck a $22.8 billion deal to sell much of its port business, including control of two facilities on the Panama Canal that had drawn the ire of U.S. President Donald Trump.
The Li Ka-shing family company agreed to unload the Panama ports and dozens of other facilities around the world to a consortium of investors led by the world's biggest asset manager, BlackRock, the company said in a filing late Tuesday. The ports that the group operates in China and Hong Kong are not affected by the arrangement.
