Denmark's Maersk buys Panama Canal Railway Company

Reuters

Wed, Apr 2, 2025, 7:54 AM 1 min read

(Reuters) - Canadian Pacific Kansas City said connected Wednesday it and U.S.-based Lanco Group person sold the Panama Canal Railway Company to a portion of Denmark's Maersk , 1 of the world's largest instrumentality shipping groups.

The Canadian railway institution did not disclose presumption of the deal, but added the woody would assistance it absorption connected its halfway assets successful Canada, the U.S. and Mexico.

The acquisition "represents an charismatic infrastructure concern successful the portion aligned to our halfway services of intermodal instrumentality movement," said Keith Svendsen, CEO of Maersk's portion APM Terminals.

Founded arsenic a associated task betwixt units of Canadian Pacific and Lanco Group, the Panama Railway Company provides rail-based freight and rider services on the canal. It posted a gross of $77 cardinal past year.

The woody comes astatine a clip erstwhile U.S. President Donald Trump's medication has threatened to instrumentality implicit the canal - built by the United States and returned to Panama successful 1999 - implicit allegations of increasing overseas presence, particularly China.

Hong Kong's CK Hutchison had past period agreed to merchantability cardinal ports adjacent the Panama Canal to a radical led by BlackRock, which had eased immoderate of the unit from Trump.

However, the deal, primitively expected to beryllium signed this week, is present expected to beryllium delayed implicit China's criticism.

(Reporting by Aishwarya Jain successful Bengaluru; Editing by Leroy Leo)