Goldman Sachs Lands Exclusive Role in $19B CK Hutchison Ports Sale

Goldman Sachs has secured a rare solo role in advising CK Hutchison Holdings on the sale of its ports to a consortium led by BlackRock, in a deal valued at approximately $19 billion. The investment bank is currently the only firm working on the transaction, according to people familiar with the matter.

This blockbuster deal marks one of the largest in recent years, as billionaire Li Ka-shing, the founder of CK Hutchison, looks to divest his ports business. The sale is expected to be a significant move for the global ports industry, with BlackRock's involvement indicating a growing interest from institutional investors in infrastructure assets.

Goldman Sachs' role in the transaction highlights the firm's strong relationships with both CK Hutchison and BlackRock, as well as its expertise in handling complex, high-profile deals. The investment bank has a proven track record in advising on major transactions, including mergers and acquisitions, and has been involved in several high-profile deals in the infrastructure sector.

The sale of CK Hutchison's ports is expected to be a lengthy process, with several potential bidders vying for the assets. The consortium led by BlackRock is one of the frontrunners, but other investors, including sovereign wealth funds and infrastructure funds, are also believed to be interested in the deal.

The transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in the second half of 2023, although the timeline may be subject to change depending on the progress of the deal and any potential obstacles that arise.