CK Hutchison is selling 80% of its global ports business, including the Port of Felixstowe, the UK’s busiest container hub, to a consortium led by BlackRock and MSC’s Terminal Investment Limited. The $22.8 billion deal covers 43 ports across 23 countries but excludes Hutchison’s shipping operations in China.

This sale is expected to bring in over $19 billion in cash, helping Hutchison restructure its investments while retaining a minority stake in its global shipping terminals. Felixstowe, a key player in UK shipping, will now be partly controlled by MSC, the world’s largest shipping company.

Hutchison sees the deal as a strategic move, providing financial flexibility while maintaining some presence in the shipping industry. Meanwhile, MSC aims to strengthen its shipping network, making Felixstowe an even more vital hub for international trade.

Felixstowe already handles nearly half of the UK’s container shipping, and this acquisition could increase investment in its infrastructure. MSC’s involvement may lead to expanded shipping routes and improved logistics, boosting the port’s global competitiveness.

The deal still needs regulatory approval before it’s finalized. If cleared, it will reshape the UK’s shipping industry and reinforce Felixstowe’s position as a leading European port.