The deal comes after U.S. President Donald Trump repeatedly threatened to take control of the Panama Canal and end what he sees as China’s influence over the waterway critical to global trade.

Li Ka-shing's company would have come under increased US scrutiny and risked fight in American court if it held on to overseas docks, sources say CK Hutchison Holdings' decision to sell its port operations in the Panama Canal and elsewhere was aimed at mitigating geopolitical risks even though the conglomerate framed the deal as a purely commercial move,

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.