Hong Kong, China – In a significant acquisition deal, Global Infrastructure Partners, a subsidiary of BlackRock owned by Nigerian billionaire Adebayo Ogunlesi, has purchased the Panama Canal Ports for a whopping $23 billion. This move comes as a Hong Kong-based conglomerate has agreed to transfer its control of the ports to the GIP consortium, which includes partners like TIL.
With this deal, GIP will now oversee the operations of the ports in collaboration with TIL and other entities. The agreement includes purchasing all shares of Hutchison Port Holdings and Hutchison Port Group Holdings from CK Hutchison Holdings, totaling an estimated $23 billion, including $5 billion in debt.
The acquisition gives the BlackRock consortium control over 43 ports spread across 23 countries, including key locations such as Balboa and Cristobal in Panama, as well as ports in Mexico, the Netherlands, Egypt, Australia, and Pakistan. This strategic move enhances GIP’s presence in the global infrastructure sector.
The Panama Canal is a crucial waterway that serves as a vital link for maritime traffic between the Atlantic and Pacific Oceans. The United States constructed the canal in the early 1900s and later transferred control to Panama in 1999. The recent acquisition by GIP further solidifies Ogunlesi’s position as one of the wealthiest individuals globally.
Adebayo Ogulesi’s net worth of $1.7 billion places him among Africa’s top billionaires. His wealth surged following the $12.5 billion deal with BlackRock, marking a significant milestone in his career. As the Chairman, CEO, and co-founder of GIP, he continues to drive the company towards success in the infrastructure investment landscape.
Ogunlesi’s extensive experience in finance and investments, including his tenure at Credit Suisse and board positions at various high-profile firms, positions him as a prominent figure in the industry. The recent partnership with BlackRock further expands GIP’s portfolio and solidifies its position as a leader in infrastructure management.
Moving forward, Ogunlesi and the founders of GIP will lead the consortium, leveraging their expertise to enhance investment opportunities and operational efficiencies. The acquisition of the Panama Canal Ports marks a significant milestone for GIP and reinforces Ogunlesi’s standing among Africa’s wealthiest individuals.