U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison, including assets it holds along the Panama Canal.

Donald Trump promised on Day 1 to seize the Panama Canal. “We’re taking it back,” the US president declared in his inaugural address. Within weeks, Wall Street billionaire Larry Fink was on the line with the White House.

BlackRock, America’s largest asset manager which handles over $11 trillion in assets, has agreed to purchase two ports on either end of the Panama Canal. BlackRock is buying the ports from Hong Kong-based CK Hutchison in a deal worth about $22.8 billion.