Italian Billionaire Outplays BlackRock in $19-B Global Port Grab

Italian shipping tycoon Gianluigi Aponte has pulled off one of the decade’s most significant infrastructure deals.

TiL’s expanded global presence across 31 countries further solidifies Aponte’s dominance. I Photo: TiL

His family-owned Terminal Investment Ltd. (TiL) is acquiring 41 of 43 ports being sold by Li Ka-shing’s CK Hutchison Holdings in a $19 billion transaction, Khac Phu Nguyen reported for GuruFocus.com.

Initially billed as a joint TiL-BlackRock deal, it is now clear TiL will claim the lion’s share, leaving BlackRock with just a 51% stake in two Panama Canal ports — a sliver representing only 4% of the deal’s value, yet strategically crucial due to the canal’s role in global trade.

The arrangement has sparked geopolitical tension, with Beijing voicing concerns over U.S. involvement, and Panama’s government accusing CK Hutchison of irregularities — claims the company has denied.

Buyers have pledged to maintain existing operations and ensure port access for all shippers — a likely effort to preempt regulatory backlash.

CK Hutchison will retain its ports in Hong Kong and mainland China, which contribute around 12% of its revenue. Following the announcement, its Hong Kong-listed shares rose nearly 4%.

Behind the scenes, this marks a classic Aponte power move. With MSC already the world’s largest container shipping line, TiL’s expanded global presence across 31 countries further solidifies Aponte’s dominance. While BlackRock remains involved through its infrastructure arm, it’s Aponte who now holds the reins.